Teacher Retirement System of Texas Reduces Position in Box, Inc. (NYSE:BOX)

Teacher Retirement System of Texas decreased its holdings in shares of Box, Inc. (NYSE:BOX) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,490 shares of the software maker’s stock after selling 10,720 shares during the period. Teacher Retirement System of Texas’ holdings in BOX were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BOX. Janney Montgomery Scott LLC grew its holdings 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 period. Farther Finance Advisors LLC lifted 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 grew its stake 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 valued at $1,189,000 after acquiring an additional 423 shares during the period. Aspiriant LLC increased its holdings in BOX by 5.0% in the 4th 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 raised its stake in BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after acquiring an additional 442 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Price Performance

NYSE:BOX opened at $31.61 on Friday. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The stock’s 50 day simple moving average is $32.70 and its two-hundred day simple moving average is $32.66.

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

Wall Street Analyst Weigh In

BOX has been the subject of a number of recent analyst reports. Bank of America assumed coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Raymond James reissued an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Citigroup upped their price objective on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.11.

Insider Activity at BOX

In related news, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.42, for a total value of $209,239.18. Following the completion of the transaction, the chief operating officer now owns 440,988 shares of the company’s stock, valued at approximately $15,178,806.96. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.05, for a total value of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at $45,540,538.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,705 shares of company stock valued at $2,375,998. 4.10% of the stock is owned by corporate insiders.

BOX Company 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.