Hillsdale Investment Management Inc. Buys 1,400 Shares of Box, Inc. (NYSE:BOX)

Hillsdale Investment Management Inc. lifted its position in shares of Box, Inc. (NYSE:BOX) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,150 shares of the software maker’s stock after buying an additional 1,400 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.12% of BOX worth $5,661,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock worth $247,000 after buying an additional 391 shares during the period. Farther Finance Advisors LLC increased its position in shares of BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after buying an additional 417 shares during the period. Sanctuary Advisors LLC increased its position in shares of BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after buying an additional 423 shares during the period. Aspiriant LLC increased 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 increased its position 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 during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup raised their price target on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley raised their price target on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Bank of America assumed coverage on shares of BOX in a report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target 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. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.11.

BOX Price Performance

BOX opened at $30.35 on Friday. The company’s 50-day moving average is $32.73 and its 200 day moving average is $32.70. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The firm has a market capitalization of $4.36 billion, a P/E ratio of 37.93, a PEG ratio of 4.42 and a beta of 1.00.

BOX declared that its board has authorized a stock repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other BOX news, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.06, for a total value of $148,808.46. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX 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 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. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,363 shares of company stock valued at $2,533,374. Company insiders own 4.10% of the company’s stock.

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.