The Manufacturers Life Insurance Company Sells 1,867 Shares of Box, Inc. (NYSE:BOX)

The Manufacturers Life Insurance Company lowered its stake in Box, Inc. (NYSE:BOX) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,582 shares of the software maker’s stock after selling 1,867 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BOX were worth $2,515,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after acquiring an additional 391 shares in the last quarter. Farther Finance Advisors LLC increased its stake in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after purchasing an additional 417 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in BOX by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after buying an additional 423 shares during the last quarter. Aspiriant LLC lifted its stake in shares of BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after buying an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after buying an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

Shares of BOX stock opened at $31.41 on Friday. The stock has a market cap 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. The stock’s fifty day moving average is $30.69 and its 200 day moving average is $32.18. Box, Inc. has a one year low of $24.63 and a one year high of $35.74.

BOX declared that its board has authorized a share repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at BOX

In other news, COO Olivia Nottebohm sold 6,079 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18. Following the sale, the chief operating officer now directly owns 440,988 shares in the company, valued at $15,178,806.96. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction 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 have sold 69,022 shares of company stock valued at $2,198,045 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

BOX Company 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.