Invesco Ltd. Sells 1,984,899 Shares of Box, Inc. (NYSE:BOX)

Invesco Ltd. reduced its stake in Box, Inc. (NYSE:BOX - Free Report) by 79.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524,431 shares of the software maker's stock after selling 1,984,899 shares during the period. Invesco Ltd. owned approximately 0.36% of BOX worth $16,572,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock valued at $247,000 after purchasing an additional 391 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in BOX by 19.3% during 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 during the period. Sanctuary Advisors LLC grew its position in BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock worth $1,189,000 after buying an additional 423 shares in the last quarter. Aspiriant LLC increased its stake in BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker's stock worth $286,000 after acquiring an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock valued at $548,000 after acquiring an additional 442 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $34.32, for a total value of $446,160.00. Following the transaction, the chief financial officer now owns 1,453,684 shares in the company, valued at approximately $49,890,434.88. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18. Following the sale, the chief operating officer now owns 440,988 shares of the company's stock, valued at $15,178,806.96. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,917 shares of company stock valued at $2,135,905 in the last ninety days. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

BOX Stock Up 1.8 %

Shares of NYSE BOX traded up $0.53 during midday trading on Wednesday, reaching $30.32. The company had a trading volume of 1,652,306 shares, compared to its average volume of 1,816,428. The stock has a market cap of $4.36 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The firm's fifty day moving average price is $31.42 and its 200-day moving average price is $32.30.

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

BOX Company 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.