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

Great Lakes Advisors LLC trimmed its position in Box, Inc. (NYSE:BOX) by 19.9% during the fourth quarter, according to the company in its most recent disclosure 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.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of BOX by 1.2% in the third quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock valued at $184,042,000 after purchasing an additional 69,107 shares in the last quarter. Geode Capital Management LLC raised its holdings in BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after acquiring an additional 13,028 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in BOX by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker’s stock worth $79,376,000 after acquiring an additional 44,190 shares in the last quarter. Congress Asset Management Co. raised its holdings in BOX by 17.5% during the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock worth $52,445,000 after acquiring an additional 246,993 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in BOX by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,629 shares of the software maker’s stock worth $44,228,000 after acquiring an additional 27,814 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BOX shares. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. DA Davidson initiated coverage on BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price on the stock. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Insider Activity

In related news, VP Eli Berkovitch sold 4,792 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the sale, the vice president now owns 140,172 shares of the company’s stock, valued at $4,549,983.12. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the sale, the chief operating officer now directly owns 440,988 shares in the company, valued at $15,178,806.96. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,155 shares of company stock valued at $2,688,923. 4.10% of the stock is owned by insiders.

BOX Trading Up 3.0 %

BOX stock opened at $31.23 on Friday. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock’s 50 day moving average is $32.79 and its 200-day moving average is $32.77. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 4.42 and a beta of 1.00.

BOX announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually 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.