FORA Capital LLC Sells 25,504 Shares of Box, Inc. (NYSE:BOX)

FORA Capital LLC cut its stake in Box, Inc. (NYSE:BOX) by 60.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,570 shares of the software maker’s stock after selling 25,504 shares during the period. FORA Capital LLC’s holdings in BOX were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its holdings in BOX by 28.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 433,390 shares of the software maker’s stock worth $13,695,000 after buying an additional 96,147 shares in the last quarter. Caption Management LLC acquired a new position in shares of BOX during the fourth quarter valued at $698,000. BOKF NA lifted its stake in shares of BOX by 23.3% during the fourth quarter. BOKF NA now owns 25,401 shares of the software maker’s stock valued at $783,000 after acquiring an additional 4,798 shares during the period. Brevan Howard Capital Management LP increased its position in BOX by 220.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 30,337 shares of the software maker’s stock worth $959,000 after purchasing an additional 20,874 shares during the period. Finally, Caxton Associates LP bought a new stake in BOX during the 4th quarter worth about $416,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Trading Up 0.1 %

BOX opened at $31.41 on Friday. The firm’s fifty day simple moving average is $30.69 and its 200 day simple moving average is $32.18. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a market capitalization of $4.52 billion, a P/E ratio of 39.26, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX declared that its board has authorized a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BOX. Raymond James reaffirmed an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price target on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley dropped their price objective on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, DA Davidson decreased their target price on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

Insider Activity

In other BOX news, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the transaction, the chief operating officer now directly owns 440,988 shares of the company’s stock, valued at $15,178,806.96. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.32, for a total transaction of $446,160.00. Following the completion of the transaction, the chief financial officer now directly owns 1,453,684 shares in the company, valued at $49,890,434.88. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,022 shares of company stock worth $2,198,045 over the last ninety days. Insiders own 4.10% of the company’s stock.

About BOX

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.