Massachusetts Financial Services Co. MA Raises Stake in Box, Inc. (NYSE:BOX)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Box, Inc. (NYSE:BOX) by 13.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,468 shares of the software maker’s stock after buying an additional 12,239 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.07% of BOX worth $3,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after purchasing an additional 391 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 417 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of BOX by 1.2% in the fourth 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 during the last quarter. Aspiriant LLC grew its holdings 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 acquiring an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised 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 valued at $548,000 after acquiring an additional 442 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on BOX. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Raymond James restated an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, March 19th. Bank of America started coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.11.

Insider Activity at BOX

In other news, COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the sale, the chief operating officer now owns 427,113 shares of the company’s stock, valued at $13,137,995.88. This represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the sale, the vice president now owns 132,741 shares of the company’s stock, valued at $4,122,935.46. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,705 shares of company stock valued at $2,375,998. 4.10% of the stock is owned by company insiders.

BOX Stock Down 2.3 %

Shares of NYSE:BOX opened at $29.12 on Tuesday. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The stock has a market cap of $4.19 billion, a P/E ratio of 36.40, a PEG ratio of 4.42 and a beta of 0.96. The business has a fifty day moving average of $32.57 and a two-hundred day moving average of $32.54.

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

BOX Company 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.