LPL Financial LLC Buys 2,066 Shares of Box, Inc. (NYSE:BOX)

LPL Financial LLC increased its stake in shares of Box, Inc. (NYSE:BOX) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,757 shares of the software maker’s stock after acquiring an additional 2,066 shares during the quarter. LPL Financial LLC’s holdings in BOX were worth $656,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BOX. KLP Kapitalforvaltning AS purchased a new position in shares of BOX during the fourth quarter valued at about $1,991,000. Hillsdale Investment Management Inc. boosted its position in shares of BOX by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 179,150 shares of the software maker’s stock valued at $5,661,000 after acquiring an additional 1,400 shares during the last quarter. Sei Investments Co. grew its holdings in shares of BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after purchasing an additional 255,623 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in BOX in the fourth quarter worth $288,000. Finally, Harvest Fund Management Co. Ltd increased its position in BOX by 11,111.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,624 shares of the software maker’s stock worth $241,000 after purchasing an additional 7,556 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BOX. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. DA Davidson dropped their price target on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Raymond James reaffirmed an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, Morgan Stanley cut their target price on BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.44.

Insider Activity

In other news, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the sale, the chief operating officer now owns 440,988 shares of the company’s stock, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,022 shares of company stock valued at $2,198,045. 4.10% of the stock is currently owned by company insiders.

BOX Stock Up 1.8 %

BOX opened at $30.32 on Thursday. The business has a fifty day moving average of $31.32 and a 200 day moving average of $32.28. 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 $4.36 billion, a P/E ratio of 37.90, a PEG ratio of 4.42 and a beta of 0.96.

BOX declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding 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 usually an indication that the company’s leadership believes its stock is 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.