Cornerstone Capital Inc. Trims Holdings in Box, Inc. (NYSE:BOX)

Cornerstone Capital Inc. trimmed its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,815 shares of the software maker's stock after selling 14,550 shares during the period. Cornerstone Capital Inc. owned about 0.22% of BOX worth $9,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after purchasing an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of BOX by 19.3% in the fourth 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. acquired a new stake in shares of BOX in the fourth quarter worth approximately $132,000. Plato Investment Management Ltd purchased a new stake in shares of BOX during the fourth quarter worth approximately $134,000. Finally, KBC Group NV lifted its holdings in BOX by 35.7% in the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker's stock valued at $171,000 after purchasing an additional 1,420 shares in the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Trading Up 2.0 %

NYSE:BOX traded up $0.60 during midday trading on Thursday, hitting $30.90. 436,508 shares of the company were exchanged, compared to its average volume of 1,680,015. The company has a market capitalization of $4.44 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The company has a fifty day simple moving average of $31.32 and a 200 day simple moving average of $32.28.

BOX announced that its board has approved a stock repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, COO Olivia Nottebohm sold 1,332 shares of BOX stock in a transaction dated Monday, April 7th. The shares were 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. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $29.72, for a total value of $386,360.00. Following the transaction, the chief financial officer now directly owns 1,463,951 shares of the company's stock, valued at approximately $43,508,623.72. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,022 shares of company stock valued at $2,198,045 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BOX has been the subject of a number of analyst reports. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Morgan Stanley lowered 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 report on Wednesday, April 16th. StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, DA Davidson decreased their target price 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, BOX presently has an average rating of "Moderate Buy" and an average 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.