Bank of New York Mellon Corp Reduces Position in Box, Inc. (NYSE:BOX)

Bank of New York Mellon Corp lowered its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,304,049 shares of the software maker's stock after selling 30,015 shares during the period. Bank of New York Mellon Corp owned about 0.91% of BOX worth $41,208,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BOX. Itau Unibanco Holding S.A. bought a new stake in BOX in the third quarter valued at approximately $36,000. Farther Finance Advisors LLC increased its stake in shares of BOX by 245.4% in the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker's stock worth $71,000 after buying an additional 1,536 shares during the period. KBC Group NV raised its holdings in BOX by 35.7% during the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker's stock valued at $171,000 after buying an additional 1,420 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in BOX by 9.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,070 shares of the software maker's stock valued at $192,000 after buying an additional 530 shares during the period. Finally, Bleakley Financial Group LLC purchased a new stake in BOX during the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 86.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson began coverage on shares of BOX in a research note on Wednesday, December 18th. They set a "buy" rating and a $45.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of BOX in a report on Thursday, November 14th. Bank of America began coverage on BOX in a research report on Thursday, December 12th. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.60.

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Insider Activity at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.54, for a total transaction of $325,400.00. Following the completion of the transaction, the chief executive officer now owns 2,999,155 shares in the company, valued at approximately $97,592,503.70. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the completion of the sale, the chief operating officer now directly owns 440,988 shares in the company, valued at $15,178,806.96. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,041 shares of company stock valued at $2,889,758 in the last three months. Company insiders own 4.10% of the company's stock.

BOX Trading Down 0.4 %

BOX stock traded down $0.14 on Monday, hitting $32.13. 2,059,359 shares of the stock traded hands, compared to its average volume of 1,888,944. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The firm has a market cap of $4.62 billion, a P/E ratio of 40.16, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The business's fifty day simple moving average is $32.82 and its 200 day simple moving average is $32.70.

BOX declared that its Board of Directors has authorized a share repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.