Comerica Bank Acquires 3,487 Shares of Box, Inc. (NYSE:BOX)

Comerica Bank grew its holdings in Box, Inc. (NYSE:BOX) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,245 shares of the software maker’s stock after acquiring an additional 3,487 shares during the period. Comerica Bank’s holdings in BOX were worth $2,125,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Integrated Quantitative Investments LLC bought a new position in shares of BOX during the 4th quarter worth about $1,418,000. Bryce Point Capital LLC acquired a new position in BOX in the 4th quarter valued at approximately $1,620,000. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of BOX in the 4th quarter worth approximately $5,997,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of BOX during the 4th quarter worth approximately $981,000. Finally, Sei Investments Co. increased its position 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 purchasing an additional 255,623 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $34.32, for a total transaction of $446,160.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, COO Olivia Nottebohm sold 1,332 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the sale, the chief operating officer now directly owns 492,545 shares of the company’s stock, valued at approximately $14,288,730.45. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,022 shares of company stock valued at $2,198,045. Insiders own 4.10% of the company’s stock.

BOX Stock Up 0.1 %

BOX stock opened at $31.41 on Friday. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The stock has a 50-day simple moving average of $30.69 and a 200 day simple moving average of $32.18. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX declared that its board has authorized a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

BOX 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.