Martingale Asset Management L P Has $2.69 Million Holdings in Box, Inc. (NYSE:BOX)

Martingale Asset Management L P lifted its position in shares of Box, Inc. (NYSE:BOX) by 12.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 85,194 shares of the software maker’s stock after purchasing an additional 9,105 shares during the period. Martingale Asset Management L P’s holdings in BOX were worth $2,692,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in BOX by 103.9% during 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 purchasing an additional 1,725,197 shares in the last quarter. Norges Bank bought a new stake in shares of BOX during the fourth quarter worth about $29,973,000. Jupiter Asset Management Ltd. acquired a new stake in shares of BOX in the 4th quarter worth about $24,234,000. Fisher Asset Management LLC lifted its position in BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after acquiring an additional 692,784 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in BOX by 22.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock valued at $51,623,000 after purchasing an additional 304,755 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 1,332 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $29.01, for a total value of $38,641.32. Following the completion of the sale, the chief operating officer now directly owns 492,545 shares of the company’s stock, valued at $14,288,730.45. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Eli Berkovitch sold 5,651 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at $3,822,443.52. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,246 shares of company stock valued at $1,862,181. Company insiders own 4.10% of the company’s stock.

BOX Stock Performance

Shares of NYSE:BOX opened at $30.08 on Friday. The company has a market capitalization of $4.33 billion, a P/E ratio of 37.61, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. The company’s 50-day moving average is $32.17 and its 200 day moving average is $32.43. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74.

BOX declared that its board has authorized a stock repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently 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. Bank of America assumed coverage on BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target for the company. Raymond James restated an “outperform” rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, DA Davidson reissued a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Wednesday, March 19th. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.11.

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.