The Manufacturers Life Insurance Company Sells 1,439 Shares of Box, Inc. (NYSE:BOX)

The Manufacturers Life Insurance Company trimmed its position in shares of Box, Inc. (NYSE:BOX) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,449 shares of the software maker’s stock after selling 1,439 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of BOX worth $2,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of BOX by 80.7% during the 2nd quarter. SG Americas Securities LLC now owns 15,794 shares of the software maker’s stock valued at $418,000 after buying an additional 7,053 shares in the last quarter. Diversified Trust Co grew its holdings in BOX by 2.9% in the second quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock worth $713,000 after purchasing an additional 768 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of BOX by 143.6% during the second quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock valued at $6,742,000 after purchasing an additional 150,309 shares in the last quarter. Blue Trust Inc. increased its stake in shares of BOX by 20.9% during the second quarter. Blue Trust Inc. now owns 11,448 shares of the software maker’s stock valued at $324,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Insider Buying and Selling

In other BOX news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total transaction of $329,200.00. Following the completion of the sale, the chief executive officer now directly owns 3,009,155 shares of the company’s stock, valued at approximately $99,061,382.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total transaction of $427,570.00. Following the transaction, the chief financial officer now owns 1,500,661 shares in the company, valued at $49,356,740.29. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,500 shares of company stock worth $1,711,135. 4.10% of the stock is owned by insiders.

BOX Stock Up 1.4 %

Shares of NYSE BOX opened at $32.50 on Monday. The firm’s 50-day moving average price is $33.04 and its 200-day moving average price is $29.96. Box, Inc. has a 52-week low of $23.78 and a 52-week high of $35.74. The company has a market cap of $4.65 billion, a PE ratio of 40.63 and a beta of 0.86.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BOX shares. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price target on shares of BOX in a report on Wednesday, December 4th. UBS Group lifted their price target on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of BOX in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

About BOX

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.