Numerai GP LLC Acquires 34,730 Shares of Box, Inc. (NYSE:BOX)

Numerai GP LLC boosted its holdings in shares of Box, Inc. (NYSE:BOX) by 171.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,036 shares of the software maker’s stock after buying an additional 34,730 shares during the quarter. Numerai GP LLC’s holdings in BOX were worth $1,739,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BOX. Janney Montgomery Scott LLC boosted its stake in shares of BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock worth $247,000 after acquiring an additional 391 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after acquiring an additional 417 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in BOX by 1.2% in the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after purchasing an additional 423 shares during the last quarter. Aspiriant LLC boosted its position in BOX by 5.0% during the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after purchasing an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after purchasing an additional 442 shares during the period. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 3,434 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $31.54, for a total value of $108,308.36. Following the sale, the chief operating officer now owns 556,011 shares of the company’s stock, valued at $17,536,586.94. The trade was a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eli Berkovitch sold 5,651 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares of the company’s stock, valued at $3,822,443.52. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,377 shares of company stock valued at $2,060,714 over the last three months. 4.10% of the stock is owned by corporate insiders.

BOX Stock Performance

NYSE:BOX opened at $31.78 on Wednesday. The firm’s 50-day moving average is $30.68 and its 200-day moving average is $32.18. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 4.42 and a beta of 0.94. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74.

BOX announced that its board has authorized a stock repurchase 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BOX shares. JPMorgan Chase & Co. dropped their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday, March 19th. Morgan Stanley cut their target price 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. Raymond James restated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, DA Davidson dropped their price objective on BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.44.

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.