Shelton Capital Management Lowers Position in Box, Inc. (NYSE:BOX)

Shelton Capital Management cut its position in shares of Box, Inc. (NYSE:BOX) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,781 shares of the software maker’s stock after selling 549 shares during the quarter. Shelton Capital Management’s holdings in BOX were worth $1,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC lifted 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 valued at $81,000 after acquiring an additional 417 shares during the period. SBI Securities Co. Ltd. bought a new stake in BOX during the fourth quarter worth about $132,000. Plato Investment Management Ltd purchased a new stake in BOX in the fourth quarter worth about $134,000. Finally, KBC Group NV grew its holdings in BOX by 35.7% in the fourth quarter. KBC Group NV now owns 5,403 shares of the software maker’s stock worth $171,000 after purchasing an additional 1,420 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Stock Performance

BOX opened at $28.38 on Wednesday. The company’s 50-day simple moving average is $32.37 and its two-hundred day simple moving average is $32.48. The stock has a market capitalization of $4.08 billion, a P/E ratio of 35.48, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74.

BOX announced that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 4,791 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.06, for a total value of $148,808.46. Following the completion of the transaction, the vice president now directly owns 132,741 shares in the company, valued at approximately $4,122,935.46. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,705 shares of company stock worth $2,375,998 over the last quarter. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. DA Davidson restated a “buy” rating and set a $45.00 price target on shares of BOX in a report on Wednesday, March 19th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. 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 report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

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.