State of Tennessee Department of Treasury Sells 9,295 Shares of Box, Inc. (NYSE:BOX)

State of Tennessee Department of Treasury cut its holdings in shares of Box, Inc. (NYSE:BOX) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,698 shares of the software maker’s stock after selling 9,295 shares during the period. State of Tennessee Department of Treasury’s holdings in BOX were worth $2,108,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings 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 period. Farther Finance Advisors LLC lifted its holdings in BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after buying an additional 417 shares during the period. Sanctuary Advisors LLC lifted its holdings in BOX by 1.2% in 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 during the period. Aspiriant LLC lifted its holdings in BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after buying an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of BOX by 2.6% in the 4th 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 in the last quarter. 86.74% of the stock is owned by institutional investors.

BOX Trading Down 0.4 %

BOX stock opened at $30.84 on Tuesday. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The firm has a 50 day moving average of $31.05 and a 200 day moving average of $32.25.

BOX announced that its board has authorized a share buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.32, for a total value of $446,160.00. Following the sale, the chief financial officer now owns 1,453,684 shares in the company, valued at $49,890,434.88. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the sale, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,022 shares of company stock worth $2,198,045 over the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BOX shares. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. DA Davidson reduced their price objective on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley reduced their price objective on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Raymond James reiterated an “outperform” rating and set a $38.00 target price (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 assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.44.

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.