Abacus FCF Advisors LLC Purchases 33,356 Shares of Box, Inc. (NYSE:BOX)

Abacus FCF Advisors LLC grew its position in shares of Box, Inc. (NYSE:BOX) by 46.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 105,126 shares of the software maker’s stock after purchasing an additional 33,356 shares during the period. Abacus FCF Advisors LLC’s holdings in BOX were worth $3,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in BOX by 1.2% in the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock valued at $184,042,000 after buying an additional 69,107 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the period. Sei Investments Co. raised its stake in shares of BOX by 8.4% during the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after acquiring an additional 255,623 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of BOX by 11.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker’s stock worth $69,707,000 after purchasing an additional 233,100 shares during the period. 86.74% of the stock is currently owned by institutional investors.

BOX Stock Performance

Shares of BOX stock opened at $29.12 on Tuesday. The company 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. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The stock has a 50 day simple moving average of $32.57 and a two-hundred day simple moving average of $32.54.

BOX declared that its Board of Directors has initiated a stock repurchase 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, COO Olivia Nottebohm sold 2,105 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total transaction of $64,749.80. Following the transaction, the chief operating officer now owns 427,113 shares in the company, valued at approximately $13,137,995.88. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.05, for a total value of $403,650.00. Following the completion of the sale, the chief financial officer now owns 1,466,684 shares of the company’s stock, valued at approximately $45,540,538.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,705 shares of company stock worth $2,375,998 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on BOX shares. JPMorgan Chase & Co. decreased their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. DA Davidson reiterated a “buy” rating and issued a $45.00 target price on shares of BOX in a report on Wednesday, March 19th. Finally, 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 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.