Townsquare Capital LLC Boosts Holdings in Box, Inc. (NYSE:BOX)

Townsquare Capital LLC boosted its stake in Box, Inc. (NYSE:BOX) by 49.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 92,412 shares of the software maker’s stock after purchasing an additional 30,666 shares during the period. Townsquare Capital LLC’s holdings in BOX were worth $2,920,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BOX. Paralel Advisors LLC increased its holdings in BOX by 10.0% in the 4th quarter. Paralel Advisors LLC now owns 88,658 shares of the software maker’s stock worth $2,802,000 after acquiring an additional 8,056 shares during the last quarter. Capital Fund Management S.A. increased its stake in shares of BOX by 49.2% in the fourth quarter. Capital Fund Management S.A. now owns 247,504 shares of the software maker’s stock worth $7,821,000 after purchasing an additional 81,635 shares in the last quarter. F M Investments LLC increased its stake in shares of BOX by 30.1% in the fourth quarter. F M Investments LLC now owns 18,789 shares of the software maker’s stock worth $594,000 after purchasing an additional 4,344 shares in the last quarter. CenterBook Partners LP lifted its stake in shares of BOX by 114.1% during the 4th quarter. CenterBook Partners LP now owns 165,332 shares of the software maker’s stock valued at $5,224,000 after buying an additional 88,106 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in BOX in the 4th quarter worth approximately $8,405,000. 86.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BOX has been the topic of several recent research reports. DA Davidson dropped their target price on BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Insider Transactions at BOX

In other BOX news, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction 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 trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders sold 72,996 shares of company stock worth $2,329,886. 4.10% of the stock is currently owned by corporate insiders.

BOX Stock Performance

NYSE BOX opened at $29.94 on Wednesday. The company has a market capitalization of $4.30 billion, a P/E ratio of 37.42, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The company has a fifty day moving average of $31.93 and a 200-day moving average of $32.38.

BOX announced that its board has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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.