Bryce Point Capital LLC Makes New $1.62 Million Investment in Box, Inc. (NYSE:BOX)

Bryce Point Capital LLC purchased a new stake in Box, Inc. (NYSE:BOX) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 51,272 shares of the software maker’s stock, valued at approximately $1,620,000.

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

Insider Activity

In other news, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total value of $193,980.89. Following the transaction, the chief operating officer now directly owns 447,067 shares of the company’s stock, valued at $14,265,907.97. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following 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 represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,705 shares of company stock valued at $2,375,998 over the last three months. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BOX. DA Davidson restated a “buy” rating and issued a $45.00 target price on shares of BOX in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley raised their target price on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, UBS Group increased their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.11.

BOX Stock Performance

BOX stock opened at $31.32 on Wednesday. The stock has a 50-day simple moving average of $32.67 and a 200 day simple moving average of $32.62. The stock has a market capitalization of $4.50 billion, a P/E ratio of 39.15, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

BOX announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

About BOX

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.