Box, Inc. (NYSE:BOX) Shares Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC lifted its stake in Box, Inc. (NYSE:BOX) by 14.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,645 shares of the software maker’s stock after acquiring an additional 2,407 shares during the quarter. Smith Group Asset Management LLC’s holdings in BOX were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its position in BOX by 1.2% in the third quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock valued at $184,042,000 after purchasing an additional 69,107 shares during the period. Geode Capital Management LLC grew its stake in shares of BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock valued at $106,387,000 after buying an additional 13,028 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of BOX by 1.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker’s stock valued at $79,376,000 after buying an additional 44,190 shares during the period. Congress Asset Management Co. acquired a new position in BOX during the 3rd quarter worth about $46,236,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BOX by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after acquiring an additional 134,175 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Trading Up 4.0 %

Shares of BOX opened at $33.58 on Wednesday. The company’s 50 day simple moving average is $32.42 and its 200-day simple moving average is $31.44. The firm has a market cap of $4.83 billion, a PE ratio of 41.97, a price-to-earnings-growth ratio of 5.70 and a beta of 0.89. Box, Inc. has a 12-month low of $24.56 and a 12-month high of $35.74.

Wall Street Analysts Forecast Growth

BOX has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. DA Davidson began coverage on shares of BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price on the stock. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, December 4th. UBS Group upped their price objective on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, William Blair reiterated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. One research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.89.

Insider Transactions at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.21, for a total transaction of $444,730.00. Following the completion of the sale, the chief financial officer now directly owns 1,461,509 shares of the company’s stock, valued at $49,998,222.89. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 2,500 shares of BOX stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total value of $86,875.00. Following the completion of the transaction, the director now owns 26,697 shares in the company, valued at $927,720.75. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,462 shares of company stock worth $2,765,964. Company insiders own 4.10% of the company’s stock.

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.