Box, Inc. (NYSE:BOX) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its position in shares of Box, Inc. (NYSE:BOX) by 36.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 11,075 shares of the software maker’s stock after selling 6,446 shares during the quarter. Corient Private Wealth LLC’s holdings in BOX were worth $350,000 as of its most recent filing with the SEC.

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

BOX Stock Performance

BOX stock opened at $31.12 on Monday. The firm has a 50 day simple moving average of $32.69 and a 200 day simple moving average of $32.65. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The stock has a market cap of $4.47 billion, a P/E ratio of 38.90, a P/E/G 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 allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Bank of America started coverage on BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson restated a “buy” rating and set a $45.00 price objective on shares of BOX in a report on Wednesday, March 19th. Finally, Raymond James reissued an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.11.

Insiders Place Their Bets

In other news, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of the sale, the vice president now directly owns 124,672 shares in the company, valued at $3,822,443.52. The trade was a 4.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Olivia Nottebohm sold 2,105 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total transaction of $64,749.80. Following the transaction, the chief operating officer now directly owns 427,113 shares in the company, valued at approximately $13,137,995.88. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,705 shares of company stock worth $2,375,998 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

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.