Box, Inc. (NYSE:BOX) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co cut its holdings in Box, Inc. (NYSE:BOX - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,238 shares of the software maker's stock after selling 36,256 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.20% of BOX worth $9,105,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MML Investors Services LLC purchased a new position in BOX in the 3rd quarter valued at about $266,000. Franklin Resources Inc. grew its stake in BOX by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker's stock worth $712,000 after acquiring an additional 1,646 shares during the period. Central Pacific Bank Trust Division raised its holdings in BOX by 9.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,070 shares of the software maker's stock valued at $192,000 after acquiring an additional 530 shares during the last quarter. Nordea Investment Management AB increased its stake in BOX by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 356,309 shares of the software maker's stock valued at $11,295,000 after purchasing an additional 14,208 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its position in BOX by 60.7% during the fourth quarter. CWA Asset Management Group LLC now owns 23,875 shares of the software maker's stock worth $754,000 after buying an additional 9,016 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Trading Up 0.6 %

NYSE:BOX traded up $0.18 during mid-day trading on Friday, hitting $30.96. The company had a trading volume of 789,046 shares, compared to its average volume of 1,819,608. The business has a fifty day simple moving average of $31.14 and a 200-day simple moving average of $32.27. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 4.42 and a beta of 0.96. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74.

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

Insider Activity at BOX

In other BOX news, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 440,988 shares of the company's stock, valued at $15,178,806.96. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $34.32, for a total transaction of $446,160.00. Following the transaction, the chief financial officer now directly owns 1,453,684 shares in the company, valued at approximately $49,890,434.88. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,022 shares of company stock worth $2,198,045. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BOX shares. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Raymond James reiterated an "outperform" rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, DA Davidson reduced their target price on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $36.44.

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.