CANADA LIFE ASSURANCE Co Sells 36,256 Shares of Box, Inc. (NYSE:BOX)

CANADA LIFE ASSURANCE Co cut its stake in shares of Box, Inc. (NYSE:BOX) by 11.2% in the 4th quarter, HoldingsChannel reports. The fund owned 288,238 shares of the software maker’s stock after selling 36,256 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in BOX were worth $9,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 1,897 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of 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 during the period. SBI Securities Co. Ltd. purchased a new stake in shares of BOX during the fourth quarter worth about $132,000. Plato Investment Management Ltd purchased a new position in BOX during the 4th quarter valued at about $134,000. Finally, KBC Group NV raised its position in BOX by 35.7% during the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker’s stock valued at $171,000 after purchasing an additional 1,420 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

Insider Transactions at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $29.72, for a total transaction of $386,360.00. Following the completion of the sale, the chief financial officer now directly owns 1,463,951 shares in the company, valued at approximately $43,508,623.72. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $29.58, for a total transaction of $81,345.00. Following the completion of the transaction, the vice president now owns 121,922 shares in the company, valued at approximately $3,606,452.76. This represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,917 shares of company stock valued at $2,135,905. Insiders own 4.10% of the company’s stock.

BOX Stock Down 1.0 %

BOX stock opened at $29.34 on Tuesday. The business has a 50 day moving average of $31.53 and a 200 day moving average of $32.31. The firm has a market cap of $4.22 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on BOX. Raymond James reissued an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley cut their target price on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

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.