Great Lakes Advisors LLC Sells 14,209 Shares of Box, Inc. (NYSE:BOX)

Great Lakes Advisors LLC decreased its position in shares of Box, Inc. (NYSE:BOX - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,342 shares of the software maker's stock after selling 14,209 shares during the period. Great Lakes Advisors LLC's holdings in BOX were worth $1,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after purchasing an additional 417 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of BOX by 14.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,427 shares of the software maker's stock valued at $1,119,000 after buying an additional 4,588 shares in the last quarter. Amundi increased its holdings in shares of BOX by 41.2% in the fourth quarter. Amundi now owns 170,619 shares of the software maker's stock valued at $5,344,000 after buying an additional 49,780 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of BOX in the fourth quarter valued at $2,671,000. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in shares of BOX in the fourth quarter valued at $5,997,000. Institutional investors own 86.74% of the company's stock.

BOX Trading Down 0.1 %

NYSE BOX traded down $0.04 on Wednesday, reaching $30.83. The stock had a trading volume of 1,978,293 shares, compared to its average volume of 1,661,136. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The business has a 50 day moving average price of $32.77 and a 200 day moving average price of $32.75. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 4.42 and a beta of 1.00.

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BOX declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at BOX

In other news, 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 transaction of $395,385.90. Following the completion of the sale, the chief operating officer now directly owns 453,146 shares of the company's stock, valued at $14,432,700.10. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.05, for a total value of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares of the company's stock, valued at $45,540,538.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,363 shares of company stock valued at $2,533,374 in the last three months. Corporate insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BOX. StockNews.com cut BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Citigroup upped their price target on BOX from $34.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Morgan Stanley upped their price target on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Finally, UBS Group lifted their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, BOX currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

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.