Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 47.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,285 shares of the software maker's stock after selling 29,569 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in BOX were worth $1,020,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of BOX during the 3rd quarter worth $36,000. Smartleaf Asset Management LLC boosted its position 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 grew its stake in shares of 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 buying an additional 417 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BOX during the 4th quarter valued at about $132,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of BOX during the 4th quarter valued at about $134,000. Hedge funds and other institutional investors own 86.74% of the company's stock.
Analysts Set New Price Targets
BOX has been the subject of a number of analyst reports. Bank of America initiated coverage on BOX in a report on Thursday, December 12th. They issued a "buy" rating and a $40.00 price target for the company. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 price target on shares of BOX in a 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. Morgan Stanley raised their target price on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. Finally, Citigroup boosted their price target on BOX from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.11.
View Our Latest Report on BOX
BOX Price Performance
Shares of BOX stock traded up $0.46 on Monday, hitting $30.83. 1,462,805 shares of the stock traded hands, compared to its average volume of 1,730,717. The company's fifty day moving average is $32.73 and its 200 day moving average is $32.71. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The company has a market capitalization of $4.43 billion, a PE ratio of 38.54, a PEG ratio of 4.42 and a beta of 1.00.
BOX declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.
Insiders Place Their Bets
In other news, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,466,684 shares of the company's stock, valued at approximately $45,540,538.20. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Olivia Nottebohm sold 12,414 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $31.85, for a total value of $395,385.90. Following the completion of the sale, the chief operating officer now directly owns 453,146 shares in the company, valued at approximately $14,432,700.10. This trade represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,363 shares of company stock valued at $2,533,374. Company insiders own 4.10% of the company's stock.
About BOX
(
Free Report)
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.
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