Dimensional Fund Advisors LP Grows Position in Box, Inc. (NYSE:BOX)

Dimensional Fund Advisors LP increased its holdings in shares of Box, Inc. (NYSE:BOX) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,610,450 shares of the software maker’s stock after purchasing an additional 11,376 shares during the quarter. Dimensional Fund Advisors LP owned 1.82% of BOX worth $82,492,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BOX. Arrowstreet Capital Limited Partnership increased its position in shares of BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Norges Bank purchased a new stake in BOX during the 4th quarter worth $29,973,000. Jupiter Asset Management Ltd. acquired a new stake in BOX in the 4th quarter valued at $24,234,000. Fisher Asset Management LLC raised its position in BOX by 420.6% in the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after purchasing an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after purchasing an additional 304,755 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Trading Up 2.0 %

Shares of BOX opened at $31.45 on Wednesday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 4.42 and a beta of 0.96. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The stock has a 50 day moving average of $30.99 and a 200-day moving average of $32.25.

BOX declared that its board has approved a stock repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Olivia Nottebohm sold 2,105 shares of the company’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $29.52, for a total value of $62,139.60. Following the transaction, the chief operating officer now owns 561,132 shares of the company’s stock, valued at approximately $16,564,616.64. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,022 shares of company stock worth $2,198,045 over the last 90 days. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

BOX has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Raymond James reiterated an “outperform” rating and set a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. DA Davidson dropped their price target on shares of BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley decreased their price objective on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

BOX Company Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.