Rhumbline Advisers Reduces Position in Box, Inc. (NYSE:BOX)

Rhumbline Advisers trimmed its holdings in Box, Inc. (NYSE:BOX) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 387,688 shares of the software maker’s stock after selling 9,501 shares during the quarter. Rhumbline Advisers’ holdings in BOX were worth $12,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BOX. Blue Trust Inc. grew its stake in shares of BOX by 6.6% in the fourth quarter. Blue Trust Inc. now owns 13,961 shares of the software maker’s stock worth $441,000 after acquiring an additional 863 shares during the period. New York State Teachers Retirement System boosted its holdings in BOX by 27.7% in the fourth quarter. New York State Teachers Retirement System now owns 63,528 shares of the software maker’s stock worth $2,007,000 after purchasing an additional 13,789 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in BOX by 182.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,608 shares of the software maker’s stock worth $1,241,000 after purchasing an additional 25,587 shares during the period. Summit Trail Advisors LLC raised its stake in BOX by 29.2% during the 4th quarter. Summit Trail Advisors LLC now owns 26,596 shares of the software maker’s stock valued at $840,000 after buying an additional 6,017 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of BOX by 2.6% during the 4th 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 period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Trading Down 3.5 %

BOX stock opened at $33.48 on Monday. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 4.42 and a beta of 0.88. The firm has a 50 day moving average of $32.68 and a 200 day moving average of $32.36.

Insider Transactions at BOX

In other news, COO Olivia Nottebohm sold 12,414 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $31.85, for a total value of $395,385.90. Following the transaction, the chief operating officer now directly owns 453,146 shares in the company, valued at $14,432,700.10. The trade was a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.06, for a total value of $148,808.46. Following the completion of the transaction, the vice president now directly owns 132,741 shares of the company’s stock, valued at approximately $4,122,935.46. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,041 shares of company stock valued at $2,889,758 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BOX shares. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Bank of America assumed coverage on BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price on the stock. Morgan Stanley upped their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. DA Davidson began coverage on shares of BOX in a research note on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, UBS Group boosted their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.89.

BOX 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.