Connor Clark & Lunn Investment Management Ltd. Sells 124,368 Shares of Box, Inc. (NYSE:BOX)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 66.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,854 shares of the software maker's stock after selling 124,368 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in BOX were worth $2,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Earnest Partners LLC boosted its holdings in shares of BOX by 8.5% during the 2nd quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker's stock valued at $210,487,000 after buying an additional 620,450 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of BOX by 4.2% during the 2nd quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker's stock valued at $81,405,000 after buying an additional 125,435 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of BOX by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker's stock valued at $67,809,000 after buying an additional 229,314 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of BOX by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,846,502 shares of the software maker's stock valued at $48,822,000 after buying an additional 120,076 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of BOX by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,603,725 shares of the software maker's stock valued at $42,402,000 after buying an additional 104,228 shares in the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the transaction, the chief executive officer now owns 3,009,155 shares in the company, valued at $99,061,382.60. This represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack R. Lazar sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the transaction, the director now owns 29,197 shares in the company, valued at $954,157.96. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $1,939,895 in the last 90 days. 4.10% of the stock is currently owned by insiders.

BOX Stock Down 0.4 %

Shares of NYSE BOX traded down $0.14 during trading on Tuesday, reaching $35.51. 1,770,346 shares of the company traded hands, compared to its average volume of 1,997,474. The firm has a 50 day simple moving average of $32.82 and a 200-day simple moving average of $29.49. The stock has a market capitalization of $5.09 billion, a PE ratio of 44.95 and a beta of 0.85. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $35.74.

BOX (NYSE:BOX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. The firm had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. As a group, research analysts predict that Box, Inc. will post 0.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of BOX from $31.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Morgan Stanley boosted their target price on shares of BOX from $30.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, September 5th. StockNews.com upgraded shares of BOX from a "buy" rating to a "strong-buy" rating in a research note on Thursday, August 15th. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, August 28th. Finally, Citigroup upped their price target on shares of BOX from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.22.

About BOX

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.