Algert Global LLC Has $1.54 Million Stock Holdings in Box, Inc. (NYSE:BOX)

Algert Global LLC reduced its stake in shares of Box, Inc. (NYSE:BOX) by 65.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,726 shares of the software maker’s stock after selling 91,664 shares during the period. Algert Global LLC’s holdings in BOX were worth $1,540,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after acquiring an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of BOX by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after purchasing an additional 653 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of BOX by 19.3% during the fourth 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. SBI Securities Co. Ltd. bought a new position in shares of BOX during the fourth quarter worth about $132,000. Finally, Plato Investment Management Ltd acquired a new stake in BOX in the 4th quarter valued at approximately $134,000. Institutional investors own 86.74% of the company’s stock.

Insiders Place Their Bets

In other news, COO Olivia Nottebohm sold 6,079 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the sale, the chief operating officer now owns 440,988 shares in the company, valued at $15,178,806.96. The trade was a 1.36 % 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 5,651 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the transaction, the vice president now owns 124,672 shares in the company, valued at approximately $3,822,443.52. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,022 shares of company stock valued at $2,198,045 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

BOX Trading Up 0.1 %

Shares of NYSE BOX opened at $31.41 on Friday. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a 50 day moving average of $30.69 and a 200-day moving average of $32.18. The company has a market capitalization of $4.52 billion, a P/E ratio of 39.26, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX declared that its board has authorized a stock 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 reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.