Nuveen Asset Management LLC Sells 16,379,913 Shares of Box, Inc. (NYSE:BOX)

Nuveen Asset Management LLC lessened its holdings in Box, Inc. (NYSE:BOX - Free Report) by 96.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 663,415 shares of the software maker's stock after selling 16,379,913 shares during the quarter. Nuveen Asset Management LLC owned 0.46% of BOX worth $20,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in shares of BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock valued at $247,000 after acquiring an additional 391 shares during the period. Exchange Traded Concepts LLC increased its position in shares of BOX by 4.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 54,694 shares of the software maker's stock valued at $1,728,000 after acquiring an additional 2,407 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of BOX by 1.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 39,768 shares of the software maker's stock valued at $1,257,000 after acquiring an additional 522 shares during the period. Blue Trust Inc. increased its position in shares of BOX by 13.4% in the fourth quarter. Blue Trust Inc. now owns 14,851 shares of the software maker's stock valued at $486,000 after acquiring an additional 1,753 shares during the period. Finally, KBC Group NV increased its position in shares of BOX by 35.7% in the fourth quarter. KBC Group NV now owns 5,403 shares of the software maker's stock valued at $171,000 after acquiring an additional 1,420 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

Wall Street Analyst Weigh In

BOX has been the topic of a number of analyst reports. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Wall Street Zen upgraded shares of BOX from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. DA Davidson decreased their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Raymond James reaffirmed an "outperform" rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.44.

Insider Buying and Selling

In other news, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $31.95, for a total value of $415,350.00. Following the transaction, the chief financial officer now owns 1,440,684 shares in the company, valued at approximately $46,029,853.80. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Olivia Nottebohm sold 1,332 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the transaction, the chief operating officer now owns 492,545 shares in the company, valued at approximately $14,288,730.45. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,377 shares of company stock valued at $2,060,714 over the last quarter. Corporate insiders own 3.90% of the company's stock.

BOX Stock Up 1.3%

Shares of BOX traded up $0.40 during trading hours on Tuesday, reaching $31.49. 3,950,383 shares of the company traded hands, compared to its average volume of 1,830,873. The company's fifty day moving average price is $30.76 and its two-hundred day moving average price is $32.11. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $36.33.

BOX (NYSE:BOX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.22). BOX had a negative return on equity of 17.20% and a net margin of 13.96%. On average, analysts expect that Box, Inc. will post 0.27 EPS for the current year.

BOX declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.