Cornerstone Capital Inc. Cuts Stock Holdings in Box, Inc. (NYSE:BOX)

Cornerstone Capital Inc. decreased its holdings in Box, Inc. (NYSE:BOX - Free Report) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 311,815 shares of the software maker's stock after selling 14,550 shares during the period. Cornerstone Capital Inc. owned approximately 0.22% of BOX worth $9,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after buying an additional 1,897 shares during the period. Farther Finance Advisors LLC lifted its position in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after purchasing an additional 417 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BOX during the fourth quarter valued at approximately $132,000. Plato Investment Management Ltd bought a new position in shares of BOX in the fourth quarter worth approximately $134,000. Finally, KBC Group NV increased its stake in shares of BOX by 35.7% in the fourth quarter. KBC Group NV now owns 5,403 shares of the software maker's stock worth $171,000 after buying an additional 1,420 shares during the period. Institutional investors own 86.74% of the company's stock.

Analysts Set New Price Targets

BOX has been the subject of several analyst reports. Royal Bank of Canada reissued an "underperform" rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. DA Davidson reduced their price target on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley dropped their price objective on BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Raymond James reiterated an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, BOX has a consensus rating of "Moderate Buy" and a consensus price target of $36.44.

Insider Buying and Selling at BOX

In related news, COO Olivia Nottebohm sold 1,332 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the transaction, the chief operating officer now owns 492,545 shares of the company's stock, valued at $14,288,730.45. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,979,780 shares in the company, valued at $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,917 shares of company stock valued at $2,135,905. 4.10% of the stock is currently owned by company insiders.

BOX Stock Performance

Shares of BOX traded up $0.53 on Wednesday, reaching $30.32. The stock had a trading volume of 1,652,306 shares, compared to its average volume of 1,816,428. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. The company has a 50-day simple moving average of $31.42 and a 200-day simple moving average of $32.30. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX declared that its board has initiated a stock 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

BOX 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.