The Manufacturers Life Insurance Company Buys 1,160 Shares of Box, Inc. (NYSE:BOX)

The Manufacturers Life Insurance Company grew its stake in Box, Inc. (NYSE:BOX) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,888 shares of the software maker’s stock after purchasing an additional 1,160 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of BOX worth $2,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Neo Ivy Capital Management bought a new stake in shares of BOX during the 4th quarter worth approximately $156,000. Fisher Asset Management LLC raised its position in BOX by 10.1% during the 4th quarter. Fisher Asset Management LLC now owns 143,362 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 13,116 shares in the last quarter. Vanguard Group Inc. raised its position in BOX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 15,064,800 shares of the software maker’s stock valued at $385,810,000 after purchasing an additional 159,111 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in BOX during the 1st quarter valued at $2,477,000. Finally, Maryland State Retirement & Pension System bought a new stake in BOX during the 1st quarter valued at $1,361,000. 86.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BOX. UBS Group lifted their target price on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, August 28th. Citigroup lifted their price target on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley lifted their price target on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Price Performance

Shares of BOX stock opened at $32.34 on Thursday. Box, Inc. has a 1-year low of $23.29 and a 1-year high of $33.95. The stock’s fifty day moving average price is $30.73 and its 200 day moving average price is $28.12. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 44.30 and a beta of 0.85.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The firm had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. During the same period in the previous year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Box, Inc. will post 0.23 earnings per share for the current year.

Insider Buying and Selling at BOX

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $32.68, for a total transaction of $228,760.00. Following the sale, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BOX news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the sale, the chief executive officer now owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the sale, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,000 shares of company stock worth $1,337,180. 4.10% of the stock is currently owned by insiders.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.