Hillsdale Investment Management Inc. Boosts Stock Holdings in Box, Inc. (NYSE:BOX)

Hillsdale Investment Management Inc. raised its holdings in Box, Inc. (NYSE:BOX) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 179,150 shares of the software maker’s stock after acquiring an additional 1,400 shares during the period. Hillsdale Investment Management Inc.’s holdings in BOX were worth $5,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of BOX. Pathstone Holdings LLC increased its stake in shares of BOX by 7.3% in the third quarter. Pathstone Holdings LLC now owns 51,813 shares of the software maker’s stock worth $1,696,000 after purchasing an additional 3,532 shares in the last quarter. Intech Investment Management LLC purchased a new position in BOX during the third quarter valued at approximately $1,190,000. Integrated Investment Consultants LLC grew its stake in BOX by 8.9% during the third quarter. Integrated Investment Consultants LLC now owns 15,542 shares of the software maker’s stock valued at $509,000 after acquiring an additional 1,268 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in BOX by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 89,229 shares of the software maker’s stock valued at $2,920,000 after acquiring an additional 4,766 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after acquiring an additional 134,175 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Insider Transactions at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the business’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 sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the completion of the sale, the vice president now owns 132,741 shares of the company’s stock, valued at approximately $4,122,935.46. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,363 shares of company stock worth $2,533,374. 4.10% of the stock is currently owned by insiders.

BOX Stock Performance

Shares of BOX opened at $30.35 on Friday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The firm has a 50 day moving average price of $32.73 and a 200-day moving average price of $32.70.

BOX announced that its board has approved a share buyback plan on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BOX has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $45.00 price objective on shares of BOX in a research note on Wednesday. Raymond James reaffirmed an “outperform” rating and set a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Bank of America assumed coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target for the company. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.11.

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.