PNC Financial Services Group Inc. boosted its position in Box, Inc. (NYSE:BOX – Get Rating) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,993 shares of the software maker’s stock after acquiring an additional 2,297 shares during the period. PNC Financial Services Group Inc.’s holdings in BOX were worth $809,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in BOX. Los Angeles Capital Management LLC acquired a new stake in shares of BOX during the fourth quarter worth about $619,000. Moors & Cabot Inc. bought a new position in BOX in the fourth quarter valued at approximately $206,000. Cyndeo Wealth Partners LLC bought a new position in BOX in the fourth quarter valued at approximately $2,133,000. Nisa Investment Advisors LLC grew its stake in BOX by 2,116.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 98,442 shares of the software maker’s stock valued at $3,064,000 after purchasing an additional 94,000 shares in the last quarter. Finally, Braun Stacey Associates Inc. boosted its stake in shares of BOX by 56.6% during the 3rd quarter. Braun Stacey Associates Inc. now owns 569,378 shares of the software maker’s stock worth $13,887,000 after acquiring an additional 205,888 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.
BOX Stock Up 0.6 %
BOX stock opened at $28.18 on Thursday. The company has a market capitalization of $4.07 billion, a P/E ratio of 563.60, a PEG ratio of 13.30 and a beta of 1.01. The stock’s 50 day moving average is $26.81 and its 200 day moving average is $29.04. Box, Inc. has a twelve month low of $22.31 and a twelve month high of $34.98.
Insider Activity at BOX
In other news, Director Jack R. Lazar sold 5,000 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $26.95, for a total transaction of $134,750.00. Following the transaction, the director now directly owns 26,555 shares of the company’s stock, valued at approximately $715,657.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jack R. Lazar sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $26.95, for a total transaction of $134,750.00. Following the completion of the transaction, the director now owns 26,555 shares in the company, valued at $715,657.25. The sale 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 dated Friday, March 10th. The shares were sold at an average price of $26.09, for a total transaction of $339,170.00. Following the completion of the transaction, the chief financial officer now directly owns 1,402,904 shares of the company’s stock, valued at approximately $36,601,765.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,000 shares of company stock valued at $1,173,060. 4.90% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Credit Suisse Group reissued an “outperform” rating and set a $36.00 price target on shares of BOX in a report on Thursday, March 2nd. JMP Securities reissued a “market outperform” rating and set a $32.00 price target on shares of BOX in a report on Thursday, March 16th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 26th. Royal Bank of Canada reduced their price target on BOX from $24.00 to $21.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 15th. Finally, Morgan Stanley reduced their price target on BOX from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.44.
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.
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