Box, Inc. (NYSE:BOX) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. lowered its stake in Box, Inc. (NYSE:BOX) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,815 shares of the software maker’s stock after selling 14,550 shares during the period. Cornerstone Capital Inc. owned approximately 0.22% of BOX worth $9,853,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after buying an additional 1,725,197 shares in the last quarter. Sei Investments Co. increased its holdings in shares of BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock worth $103,857,000 after purchasing an additional 255,623 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of BOX by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,610,450 shares of the software maker’s stock worth $82,492,000 after acquiring an additional 11,376 shares during the period. Renaissance Technologies LLC increased its holdings in BOX by 11.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker’s stock valued at $69,707,000 after buying an additional 233,100 shares during the period. Finally, Congress Asset Management Co. increased its stake in BOX by 17.5% in the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock valued at $52,445,000 after acquiring an additional 246,993 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Down 0.4 %

NYSE BOX opened at $29.65 on Friday. The company has a market capitalization of $4.26 billion, a P/E ratio of 37.06, a P/E/G ratio of 4.42 and a beta of 0.96. The firm has a 50-day moving average price of $31.64 and a two-hundred day moving average price of $32.33. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX declared that its Board of Directors has initiated a stock buyback plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

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 sale, the chief financial officer now directly owns 1,453,684 shares in the company, valued at approximately $49,890,434.88. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 1,332 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the sale, the chief operating officer now owns 492,545 shares in the company, valued at $14,288,730.45. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,996 shares of company stock worth $2,329,886. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Raymond James reissued an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. DA Davidson lowered their target price on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. 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, March 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

About BOX

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.