Box, Inc. (NYSE:BOX) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in Box, Inc. (NYSE:BOX) by 47.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,285 shares of the software maker’s stock after selling 29,569 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in BOX were worth $1,020,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. acquired a new position in BOX in the fourth quarter valued at approximately $24,234,000. Farther Finance Advisors LLC raised its stake in shares of BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after buying an additional 417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BOX by 14.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,427 shares of the software maker’s stock worth $1,119,000 after buying an additional 4,588 shares during the period. Amundi raised its stake in shares of BOX by 41.2% during the 4th quarter. Amundi now owns 170,619 shares of the software maker’s stock worth $5,344,000 after buying an additional 49,780 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of BOX during the 4th quarter worth approximately $2,671,000. 86.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 target price on shares of BOX in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and set a $45.00 target price on shares of BOX in a research note on Wednesday. Bank of America initiated coverage on BOX in a research note on Thursday, December 12th. They set a “buy” rating and a $40.00 target price for the company. UBS Group increased their price objective on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

BOX Stock Down 1.9 %

Shares of NYSE:BOX opened at $30.24 on Friday. The business has a fifty day moving average of $32.74 and a two-hundred day moving average of $32.72. The stock has a market cap of $4.35 billion, a P/E ratio of 37.81, a PEG 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 declared that its board has authorized a share repurchase program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at BOX

In other BOX news, COO Olivia Nottebohm sold 12,414 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $31.85, for a total value of $395,385.90. Following the completion of the sale, the chief operating officer now directly owns 453,146 shares in the company, valued at $14,432,700.10. This represents a 2.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eli Berkovitch sold 4,791 shares of the company’s 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 completion of the sale, the vice president now 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 a total of 78,363 shares of company stock worth $2,533,374 in the last three months. 4.10% of the stock is owned by corporate insiders.

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.