Aviva PLC Decreases Position in Box, Inc. (NYSE:BOX)

Aviva PLC lowered its position in Box, Inc. (NYSE:BOX - Free Report) by 43.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,761 shares of the software maker's stock after selling 8,955 shares during the period. Aviva PLC's holdings in BOX were worth $372,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock worth $107,009,000 after buying an additional 1,725,197 shares during the last quarter. Norges Bank bought a new position in BOX in the 4th quarter valued at about $29,973,000. Jupiter Asset Management Ltd. bought a new stake in BOX during the 4th quarter worth approximately $24,234,000. Fisher Asset Management LLC raised its stake in shares of BOX by 420.6% in the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock worth $27,097,000 after purchasing an additional 692,784 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after purchasing an additional 304,755 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. DA Davidson lowered their target price on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday. Raymond James reaffirmed an "outperform" rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. One 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. According to MarketBeat.com, BOX currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.56.

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BOX Stock Down 0.6 %

Shares of BOX stock traded down $0.17 on Tuesday, reaching $29.94. The company's stock had a trading volume of 1,509,599 shares, compared to its average volume of 1,818,228. The company has a market capitalization of $4.30 billion, a P/E ratio of 37.42, a PEG ratio of 4.42 and a beta of 0.96. The stock's 50 day simple moving average is $32.02 and its 200-day simple moving average is $32.40. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at BOX

In other news, COO Olivia Nottebohm sold 6,079 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total transaction of $193,980.89. Following the sale, the chief operating officer now owns 447,067 shares in the company, valued at approximately $14,265,907.97. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eli Berkovitch sold 5,651 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of the transaction, the vice president now owns 124,672 shares of the company's stock, valued at $3,822,443.52. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,996 shares of company stock valued at $2,329,886 over the last three months. 4.10% of the stock is owned by corporate insiders.

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.