Schroder Investment Management Group Lowers Stake in Box, Inc. $BOX

by · The Cerbat Gem

Schroder Investment Management Group lowered its holdings in shares of Box, Inc. (NYSE:BOX – Free Report) by 21.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,093 shares of the software maker’s stock after selling 333,379 shares during the period. Schroder Investment Management Group’s holdings in BOX were worth $40,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in shares of BOX by 36.4% during the second quarter. Acadian Asset Management LLC now owns 4,137,447 shares of the software maker’s stock valued at $141,345,000 after purchasing an additional 1,104,314 shares during the last quarter. Norges Bank bought a new position in BOX during the 2nd quarter valued at approximately $33,042,000. Sunriver Management LLC raised its stake in BOX by 62.9% during the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker’s stock valued at $47,736,000 after buying an additional 597,410 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in BOX by 442.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 486,077 shares of the software maker’s stock worth $16,609,000 after acquiring an additional 396,400 shares in the last quarter. Finally, RGM Capital LLC boosted its holdings in BOX by 9.3% in the first quarter. RGM Capital LLC now owns 3,749,773 shares of the software maker’s stock worth $115,718,000 after acquiring an additional 318,459 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $32.81, for a total transaction of $492,150.00. Following the completion of the sale, the chief executive officer directly owned 2,937,030 shares in the company, valued at approximately $96,363,954.30. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack R. Lazar sold 5,000 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $32.20, for a total value of $161,000.00. Following the transaction, the director directly owned 27,855 shares in the company, valued at $896,931. The trade was a 15.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 122,336 shares of company stock worth $3,986,999 in the last 90 days. Insiders own 3.90% of the company’s stock.

BOX Stock Down 0.6%

Shares of BOX stock opened at $29.36 on Tuesday. The company has a 50 day moving average price of $31.82 and a 200-day moving average price of $32.76. Box, Inc. has a 52 week low of $28.00 and a 52 week high of $38.80. The firm has a market capitalization of $4.25 billion, a PE ratio of 23.68 and a beta of 0.79.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BOX. Raymond James Financial restated an “outperform” rating and set a $42.00 price target on shares of BOX in a report on Wednesday, August 27th. Citigroup raised their price objective on shares of BOX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Zacks Research downgraded shares of BOX from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. UBS Group cut shares of BOX from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $36.00 in a report on Thursday, September 18th. Finally, Royal Bank Of Canada boosted their price objective on shares of BOX from $24.00 to $26.00 and gave the stock an “underperform” rating in a report on Wednesday, August 27th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.25.

Read Our Latest Analysis on BOX

About BOX

(Free Report)

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.

See Also

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