Shelton Capital Management Trims Holdings in Box, Inc. (NYSE:BOX)

Shelton Capital Management trimmed its stake in shares of Box, Inc. (NYSE:BOX) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,781 shares of the software maker’s stock after selling 549 shares during the quarter. Shelton Capital Management’s holdings in BOX were worth $1,447,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its position in BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after purchasing an additional 391 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after buying an additional 417 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after acquiring an additional 423 shares during the last quarter. Aspiriant LLC grew its position in BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after acquiring an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in BOX by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after acquiring an additional 442 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BOX shares. JPMorgan Chase & Co. dropped their price target on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Bank of America initiated coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Wednesday, March 19th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.11.

BOX Stock Down 2.5 %

Shares of BOX opened at $28.38 on Wednesday. The firm has a fifty day simple moving average of $32.37 and a two-hundred day simple moving average of $32.48. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The stock has a market capitalization of $4.08 billion, a P/E ratio of 35.48, a PEG ratio of 4.42 and a beta of 0.96.

BOX announced that its board has approved a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at BOX

In other BOX news, VP Eli Berkovitch sold 5,651 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of the transaction, the vice president now owns 124,672 shares of the company’s stock, valued at $3,822,443.52. This represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was 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 trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,705 shares of company stock worth $2,375,998. Company insiders own 4.10% of the company’s stock.

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.