Box, Inc. (NYSE:BOX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Box, Inc. (NYSE:BOXGet Rating) by 26.1% during the 3rd quarter, Holdings Channel reports. The fund owned 57,271 shares of the software maker’s stock after selling 20,232 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BOX were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC increased its position in BOX by 61.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock valued at $32,000 after acquiring an additional 483 shares during the period. Pinnacle Wealth Planning Services Inc. increased its position in BOX by 6.1% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 8,632 shares of the software maker’s stock valued at $217,000 after acquiring an additional 497 shares during the period. Strs Ohio boosted its stake in BOX by 6.0% during the 2nd quarter. Strs Ohio now owns 8,800 shares of the software maker’s stock valued at $221,000 after purchasing an additional 500 shares in the last quarter. FDx Advisors Inc. boosted its stake in BOX by 6.9% during the 2nd quarter. FDx Advisors Inc. now owns 9,929 shares of the software maker’s stock valued at $250,000 after purchasing an additional 642 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in BOX by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 129,675 shares of the software maker’s stock valued at $3,260,000 after purchasing an additional 705 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on BOX shares. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of BOX in a research note on Monday, December 5th. Royal Bank of Canada lowered BOX from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $28.00 to $24.00 in a research note on Tuesday, January 10th. KeyCorp increased their price target on BOX from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised BOX from a “neutral” rating to an “overweight” rating and increased their price target for the company from $31.00 to $34.00 in a research note on Monday, December 12th. One investment analyst has rated the stock with a sell rating and seven have assigned 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 $35.00.

BOX Stock Up 1.5 %

BOX opened at $30.99 on Friday. The firm has a market cap of $4.43 billion, a PE ratio of -281.73 and a beta of 1.06. The business has a fifty day simple moving average of $29.70 and a 200-day simple moving average of $28.28. Box, Inc. has a fifty-two week low of $22.31 and a fifty-two week high of $33.04.

Insider Transactions at BOX

In other news, Director Daniel J. Levin sold 76,494 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $31.56, for a total transaction of $2,414,150.64. Following the completion of the sale, the director now directly owns 56,341 shares of the company’s stock, valued at approximately $1,778,121.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Dana L. Evan sold 3,299 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $98,970.00. Following the completion of the sale, the director now owns 120,483 shares of the company’s stock, valued at $3,614,490. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel J. Levin sold 76,494 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $31.56, for a total value of $2,414,150.64. Following the completion of the sale, the director now directly owns 56,341 shares of the company’s stock, valued at approximately $1,778,121.96. The disclosure for this sale can be found here. Insiders sold a total of 296,919 shares of company stock valued at $8,753,424 in the last three months. 5.20% of the stock is currently owned by corporate insiders.

About BOX

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Box, Inc engages in the provision of 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, box keysafe and automations.

Further Reading

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Institutional Ownership by Quarter for BOX (NYSE:BOX)

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