Horizon Investment Services LLC Buys Shares of 7,689 Box, Inc. (NYSE:BOX)

Horizon Investment Services LLC purchased a new position in shares of Box, Inc. (NYSE:BOX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,689 shares of the software maker’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pictet Asset Management Holding SA boosted its holdings in BOX by 19.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 21,324 shares of the software maker’s stock valued at $674,000 after purchasing an additional 3,461 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in BOX during the fourth quarter worth $247,000. Norges Bank acquired a new position in shares of BOX in the 4th quarter valued at $29,973,000. Elo Mutual Pension Insurance Co purchased a new position in shares of BOX during the 4th quarter worth $429,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of BOX by 2.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,155 shares of the software maker’s stock worth $574,000 after purchasing an additional 486 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Down 1.7 %

NYSE BOX opened at $31.12 on Friday. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The firm has a 50 day moving average of $32.69 and a two-hundred day moving average of $32.65. The stock has a market capitalization of $4.47 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. DA Davidson reissued a “buy” rating and issued a $45.00 target price on shares of BOX in a research report on Wednesday, March 19th. Citigroup raised their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group boosted their price objective on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Bank of America began coverage on BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, BOX presently has an average rating of “Moderate Buy” and a consensus price target of $37.11.

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the sale, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 1,466,684 shares of the company’s stock, valued at $45,540,538.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,705 shares of company stock valued at $2,375,998. 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.