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

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Box, Inc. (NYSE:BOX) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,238 shares of the software maker’s stock after selling 36,256 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.20% of BOX worth $9,105,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BOX. Arrowstreet Capital Limited Partnership boosted its stake in BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the last quarter. Sei Investments Co. lifted its stake in BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after purchasing an additional 255,623 shares during the last quarter. Renaissance Technologies LLC grew its holdings in BOX by 11.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker’s stock valued at $69,707,000 after purchasing an additional 233,100 shares during the period. Congress Asset Management Co. raised its stake in shares of 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 buying an additional 246,993 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of BOX by 22.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock valued at $51,623,000 after buying an additional 304,755 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

Insider Activity

In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $34.32, for a total value of $446,160.00. Following the transaction, the chief financial officer now owns 1,453,684 shares of the company’s stock, valued at $49,890,434.88. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Olivia Nottebohm sold 1,332 shares of BOX 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 directly owns 492,545 shares of the company’s stock, valued at approximately $14,288,730.45. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,917 shares of company stock worth $2,135,905. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BOX. DA Davidson lowered their price objective on BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on shares of 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 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Morgan Stanley reduced their price target on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

BOX Trading Down 1.0 %

BOX stock opened at $29.34 on Tuesday. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. The company’s 50 day moving average is $31.53 and its 200 day moving average is $32.31.

BOX announced that its Board of Directors has authorized 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board 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.