Great Lakes Advisors LLC Reduces Position in Box, Inc. (NYSE:BOX)

Great Lakes Advisors LLC lessened its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BOX. Itau Unibanco Holding S.A. acquired a new stake in BOX during the third quarter worth about $36,000. Smartleaf Asset Management LLC increased its holdings in shares of BOX by 715.8% during the 4th 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 last quarter. Farther Finance Advisors LLC raised its position in shares of BOX by 19.3% during the 4th 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 during the period. SBI Securities Co. Ltd. acquired a new position in BOX in the fourth quarter valued at approximately $132,000. Finally, Plato Investment Management Ltd acquired a new position in BOX in the fourth quarter valued at approximately $134,000. Institutional investors and hedge funds own 86.74% of the company's stock.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.05, for a total transaction of $403,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,363 shares of company stock worth $2,533,374 in the last quarter. 4.10% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

BOX has been the subject of several recent analyst reports. DA Davidson initiated coverage on BOX in a research report on Wednesday, December 18th. They issued a "buy" rating and a $45.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Citigroup upped their target price on shares of BOX from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Raymond James reiterated an "outperform" rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.60.

BOX Stock Performance

Shares of BOX stock traded down $0.13 during trading hours on Tuesday, reaching $30.86. 1,190,294 shares of the company were exchanged, compared to its average volume of 1,742,533. The firm has a market cap of $4.44 billion, a PE ratio of 38.57, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The stock's fifty day moving average is $32.77 and its 200 day moving average is $32.75.

BOX declared that its board has initiated a stock buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in 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 generally an indication that the company's board 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.