Great Lakes Advisors LLC Sells 14,209 Shares of Box, Inc. (NYSE:BOX)

Great Lakes Advisors LLC cut its holdings in shares of Box, Inc. (NYSE:BOX) by 19.9% in the 4th quarter, Holdings Channel reports. The firm owned 57,342 shares of the software maker’s stock after selling 14,209 shares during the period. Great Lakes Advisors LLC’s holdings in BOX were worth $1,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its stake in 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 purchasing an additional 391 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in 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 purchasing an additional 417 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in 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 purchasing an additional 423 shares during the last quarter. Aspiriant LLC lifted its stake in 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 purchasing an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after acquiring an additional 442 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

Insider Transactions at BOX

In other news, VP Eli Berkovitch sold 4,792 shares of BOX stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $32.46, for a total value of $155,548.32. Following the completion of the transaction, the vice president now directly owns 140,172 shares of the company’s stock, valued at approximately $4,549,983.12. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total value of $193,980.89. Following the completion of the transaction, the chief operating officer now directly owns 447,067 shares of the company’s stock, valued at approximately $14,265,907.97. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,155 shares of company stock valued at $2,688,923. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BOX. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. dropped their price target on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Morgan Stanley increased their price target on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. UBS Group increased their price target on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

BOX Stock Up 3.0 %

Shares of NYSE:BOX opened at $31.23 on Friday. The business has a fifty day simple moving average of $32.79 and a 200 day simple moving average of $32.77. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The firm has a market cap of $4.49 billion, a P/E ratio of 39.03, a P/E/G ratio of 4.42 and a beta of 1.00.

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

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.