Box, Inc. (NYSE:BOX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in Box, Inc. (NYSE:BOX - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,470,760 shares of the software maker's stock after selling 296,070 shares during the quarter. Bank of America Corp DE owned about 2.42% of BOX worth $109,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BOX. AXA S.A. raised its position in BOX by 1,332.2% during the 4th quarter. AXA S.A. now owns 144,167 shares of the software maker's stock worth $4,556,000 after buying an additional 134,101 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of BOX by 219.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 420,907 shares of the software maker's stock worth $13,301,000 after purchasing an additional 289,112 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of BOX during the fourth quarter worth $8,551,000. Comerica Bank raised its holdings in shares of BOX by 5.5% during the fourth quarter. Comerica Bank now owns 67,245 shares of the software maker's stock worth $2,125,000 after purchasing an additional 3,487 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of BOX by 30.6% during the fourth quarter. Lido Advisors LLC now owns 8,360 shares of the software maker's stock worth $264,000 after purchasing an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.

BOX Stock Down 0.3%

Shares of NYSE BOX traded down $0.11 during trading on Wednesday, hitting $31.61. The company had a trading volume of 1,099,568 shares, compared to its average volume of 1,816,517. The stock has a fifty day simple moving average of $30.68 and a two-hundred day simple moving average of $32.18. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

BOX declared that its Board of Directors has approved a share repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the transaction, the chief executive officer now directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the transaction, the chief financial officer now owns 1,440,684 shares in the company, valued at $46,029,853.80. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,377 shares of company stock worth $2,060,714 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BOX shares. JPMorgan Chase & Co. reduced their target price on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. DA Davidson cut their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley cut their price objective on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.44.

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.