Great Lakes Advisors LLC Decreases Stake in Box, Inc. (NYSE:BOX)

Great Lakes Advisors LLC cut its stake in Box, Inc. (NYSE:BOX - Free Report) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,342 shares of the software maker's stock after selling 14,209 shares during the quarter. Great Lakes Advisors LLC's holdings in BOX were worth $1,812,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BOX. Fisher Asset Management LLC lifted its position in shares of BOX by 420.6% during the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after buying an additional 692,784 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of BOX during the 4th quarter valued at approximately $8,405,000. Congress Asset Management Co. lifted its position in shares of BOX by 17.5% during the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock valued at $52,445,000 after buying an additional 246,993 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of BOX during the 4th quarter valued at approximately $5,997,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of BOX by 629.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 161,865 shares of the software maker's stock valued at $5,115,000 after buying an additional 139,664 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Eli Berkovitch sold 4,791 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the completion of the sale, the vice president now directly owns 132,741 shares of the company's stock, valued at approximately $4,122,935.46. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Olivia Nottebohm sold 12,414 shares of the firm's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $31.85, for a total value of $395,385.90. Following the sale, the chief operating officer now directly owns 453,146 shares of the company's stock, valued at $14,432,700.10. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,363 shares of company stock valued at $2,533,374. 4.10% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada reissued an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, December 4th. Morgan Stanley increased their price objective on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. DA Davidson assumed coverage on BOX in a research note on Wednesday, December 18th. They issued a "buy" rating and a $45.00 price objective for the company. StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, Citigroup increased their price objective on BOX from $34.00 to $40.00 and gave the company 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 ten have given a buy rating to the stock. Based on data from MarketBeat, BOX presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

BOX Price Performance

Shares of NYSE:BOX traded down $0.43 during midday trading on Tuesday, reaching $30.57. 226,741 shares of the company's stock were exchanged, compared to its average volume of 1,744,826. The firm's 50 day simple moving average is $32.78 and its two-hundred day simple moving average is $32.76. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 38.27, a P/E/G ratio of 4.42 and a beta of 1.00. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74.

BOX declared that its Board of Directors has approved a share 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is 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.