Cornerstone Capital Inc. Sells 14,550 Shares of Box, Inc. (NYSE:BOX)

Cornerstone Capital Inc. decreased its holdings in shares of Box, Inc. (NYSE:BOX) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 311,815 shares of the software maker’s stock after selling 14,550 shares during the quarter. Cornerstone Capital Inc.’s holdings in BOX were worth $9,853,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BOX. Dimensional Fund Advisors LP grew its holdings in BOX by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,610,450 shares of the software maker’s stock worth $82,492,000 after purchasing an additional 11,376 shares during the period. First Trust Advisors LP raised its stake in BOX by 18.2% during the 4th quarter. First Trust Advisors LP now owns 1,366,007 shares of the software maker’s stock worth $43,166,000 after buying an additional 210,002 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of BOX by 67.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 317,800 shares of the software maker’s stock worth $10,042,000 after purchasing an additional 127,800 shares in the last quarter. Marshall Wace LLP raised its holdings in BOX by 153.5% during the fourth quarter. Marshall Wace LLP now owns 157,375 shares of the software maker’s stock worth $4,973,000 after buying an additional 95,302 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in shares of BOX by 1.2% in the fourth quarter. Bridgewater Associates LP now owns 114,686 shares of the software maker’s stock valued at $3,624,000 after buying an additional 1,414 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on BOX shares. Morgan Stanley decreased their price objective on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. DA Davidson dropped their price objective on shares of BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Raymond James reiterated an “outperform” rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and an average price target of $36.44.

BOX Trading Down 0.4 %

NYSE BOX opened at $29.65 on Friday. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock’s fifty day moving average price is $31.64 and its 200-day moving average price is $32.33. The stock has a market cap 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.

BOX declared that its board has approved a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Olivia Nottebohm sold 1,332 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $29.01, for a total value of $38,641.32. Following the sale, the chief operating officer now owns 492,545 shares of the company’s stock, valued at $14,288,730.45. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,996 shares of company stock valued at $2,329,886 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

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.