Algert Global LLC Sells 91,664 Shares of Box, Inc. (NYSE:BOX)

Algert Global LLC reduced its position in shares of Box, Inc. (NYSE:BOX - Free Report) by 65.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,726 shares of the software maker's stock after selling 91,664 shares during the period. Algert Global LLC's holdings in BOX were worth $1,540,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock valued at $69,000 after purchasing an additional 1,897 shares during the period. TD Waterhouse Canada Inc. increased its position in BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock valued at $69,000 after acquiring an additional 653 shares in the last quarter. Farther Finance Advisors LLC increased its position in BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after acquiring an additional 417 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BOX in the 4th quarter valued at about $132,000. Finally, Plato Investment Management Ltd bought a new position in shares of BOX in the 4th quarter valued at about $134,000. 86.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. DA Davidson reduced their price objective on shares of 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. lowered their target price on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. Raymond James restated an "outperform" rating and issued a $38.00 price target (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, Morgan Stanley decreased their price target on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

BOX Stock Down 0.3%

Shares of BOX stock traded down $0.09 on Tuesday, reaching $31.78. The company had a trading volume of 944,634 shares, compared to its average volume of 1,816,148. The stock has a market capitalization of $4.57 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The business's 50-day moving average is $30.68 and its 200 day moving average is $32.18.

BOX announced that its board has authorized a share repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, VP Eli Berkovitch sold 5,651 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the transaction, the vice president now owns 124,672 shares of the company's stock, valued at $3,822,443.52. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the company'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 completion of the transaction, the chief executive officer now directly owns 2,979,780 shares of the company's stock, valued at $95,591,342.40. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,943 shares of company stock valued at $1,542,645 over the last quarter. 4.10% of the stock is owned by company insiders.

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.