Headlands Technologies LLC Makes New $184,000 Investment in Box, Inc. (NYSE:BOX)

Headlands Technologies LLC bought a new stake in Box, Inc. (NYSE:BOX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,822 shares of the software maker’s stock, valued at approximately $184,000.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after acquiring an additional 391 shares during the last quarter. Farther Finance Advisors LLC increased its position in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after purchasing an additional 417 shares during the period. Sanctuary Advisors LLC raised its stake in shares of BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after buying an additional 423 shares in the last quarter. Aspiriant LLC lifted its holdings in shares of BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after buying an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings 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 acquiring an additional 442 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BOX shares. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective 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. Bank of America began coverage on shares of BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 target price for the company. Finally, Raymond James reissued 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

BOX Trading Down 4.1 %

NYSE:BOX opened at $29.82 on Friday. The firm’s fifty day simple moving average is $32.63 and its 200 day simple moving average is $32.57. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 4.42 and a beta of 0.96.

BOX declared that its board has approved a share buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, VP Eli Berkovitch sold 5,651 shares of the business’s 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 transaction, the vice president now directly owns 124,672 shares of the company’s stock, valued at approximately $3,822,443.52. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total transaction of $193,980.89. Following the completion of the transaction, the chief operating officer now owns 447,067 shares of the company’s stock, valued at $14,265,907.97. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,705 shares of company stock worth $2,375,998. 4.10% of the stock is currently owned by corporate insiders.

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.