Occudo Quantitative Strategies LP Boosts Holdings in Box, Inc. (NYSE:BOX)

Occudo Quantitative Strategies LP grew its position in Box, Inc. (NYSE:BOX) by 71.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 31,040 shares of the software maker’s stock after purchasing an additional 12,982 shares during the period. Occudo Quantitative Strategies LP’s holdings in BOX were worth $981,000 as of its most recent SEC filing.

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

Insider Buying and Selling at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $31.95, for a total transaction of $415,350.00. Following the sale, the chief financial officer now owns 1,440,684 shares in the company, valued at approximately $46,029,853.80. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,377 shares of company stock worth $2,060,714. Insiders own 4.10% of the company’s stock.

BOX Stock Performance

NYSE:BOX opened at $31.78 on Wednesday. The firm’s fifty day moving average is $30.68 and its two-hundred day moving average is $32.18. The firm 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 one year low of $24.63 and a one year high of $35.74.

BOX announced that its board has approved a share buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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