Vident Advisory LLC Buys 15,475 Shares of Box, Inc. (NYSE:BOX)

Vident Advisory LLC boosted its stake in Box, Inc. (NYSE:BOX) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,662 shares of the software maker’s stock after purchasing an additional 15,475 shares during the quarter. Vident Advisory LLC owned approximately 0.08% of BOX worth $3,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Two Sigma Advisers LP boosted its stake in BOX by 694.4% in the 4th quarter. Two Sigma Advisers LP now owns 85,800 shares of the software maker’s stock worth $2,711,000 after purchasing an additional 75,000 shares during the period. State of Wyoming purchased a new stake in shares of BOX in the 4th quarter valued at about $181,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of BOX in the 4th quarter valued at about $787,000. Rafferty Asset Management LLC raised its holdings in shares of BOX by 5.8% in the 4th quarter. Rafferty Asset Management LLC now owns 26,128 shares of the software maker’s stock valued at $826,000 after acquiring an additional 1,439 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of BOX in the 4th quarter valued at about $215,000. Institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

Shares of NYSE BOX opened at $31.98 on Wednesday. The stock’s 50-day moving average is $30.74 and its 200 day moving average is $32.18. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 39.98, a P/E/G ratio of 4.42 and a beta of 0.94.

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

Insider Buying and Selling

In related news, CEO Aaron Levie sold 10,000 shares of the firm’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 transaction, the chief executive officer now directly owns 2,979,780 shares in the company, valued at $95,591,342.40. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $31.52, for a total value of $409,760.00. Following the transaction, the chief financial officer now owns 1,520,550 shares in the company, valued at approximately $47,927,736. The trade was a 0.85% 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 worth $2,060,714 in the last ninety days. 3.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley lowered their price target on BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Raymond James reaffirmed an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.44.

BOX 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.