Corient Private Wealth LLC Sells 6,446 Shares of Box, Inc. (NYSE:BOX)

Corient Private Wealth LLC trimmed its position in Box, Inc. (NYSE:BOX) by 36.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,075 shares of the software maker’s stock after selling 6,446 shares during the period. Corient Private Wealth LLC’s holdings in BOX were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in BOX during the 3rd quarter worth $36,000. Smartleaf Asset Management LLC grew its position in shares of BOX by 715.8% in the fourth 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 last quarter. Farther Finance Advisors LLC increased its stake 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 worth $81,000 after purchasing an additional 417 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of BOX during the 4th quarter worth about $132,000. Finally, Plato Investment Management Ltd acquired a new position in shares of BOX during the 4th quarter worth about $134,000. 86.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BOX. Raymond James reaffirmed an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Citigroup raised their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Bank of America started coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.11.

BOX Stock Performance

Shares of BOX stock opened at $31.12 on Monday. The firm has a fifty day moving average of $32.69 and a 200-day moving average of $32.65. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 38.90, a P/E/G ratio of 4.42 and a beta of 1.00. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74.

BOX announced that its Board of Directors has authorized a stock buyback 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 management believes its shares are undervalued.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 2,105 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total value of $64,749.80. Following the sale, the chief operating officer now directly owns 427,113 shares in the company, valued at $13,137,995.88. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction on Friday, January 10th. The shares were sold at an average price of $31.06, for a total value of $148,808.46. Following the transaction, the vice president now directly owns 132,741 shares of the company’s stock, valued at approximately $4,122,935.46. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,705 shares of company stock valued at $2,375,998 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

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.