The Manufacturers Life Insurance Company Lowers Stock Holdings in Box, Inc. (NYSE:BOX)

The Manufacturers Life Insurance Company cut its holdings in shares of Box, Inc. (NYSE:BOX) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,449 shares of the software maker’s stock after selling 1,439 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BOX were worth $2,666,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after acquiring an additional 134,175 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of BOX by 143.6% during the 2nd 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 during the last quarter. Bank of Montreal Can boosted its holdings in shares of BOX by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 351,850 shares of the software maker’s stock valued at $9,514,000 after purchasing an additional 48,633 shares during the last quarter. Versor Investments LP purchased a new position in shares of BOX during the third quarter valued at about $1,221,000. Finally, SG Americas Securities LLC increased its holdings in shares of BOX by 142.6% in the third quarter. SG Americas Securities LLC now owns 38,316 shares of the software maker’s stock worth $1,254,000 after purchasing an additional 22,522 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BOX has been the subject of several research analyst reports. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a report on Friday, August 16th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Thursday. William Blair restated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. UBS Group increased their price objective on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley boosted their target price on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

BOX Stock Up 1.4 %

BOX stock opened at $32.50 on Monday. Box, Inc. has a twelve month low of $23.78 and a twelve month high of $35.74. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 40.63 and a beta of 0.86. The firm’s fifty day simple moving average is $33.04 and its two-hundred day simple moving average is $29.96.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the completion of the transaction, the director now owns 26,697 shares in the company, valued at $927,720.75. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.21, for a total value of $444,730.00. Following the completion of the sale, the chief financial officer now owns 1,461,509 shares in the company, valued at approximately $49,998,222.89. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,500 shares of company stock valued at $1,711,135. Company insiders own 4.10% of the company’s stock.

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.