Madison Investment Advisors LLC Purchases New Stake in Box, Inc. (NYSE:BOX)

Madison Investment Advisors LLC purchased a new stake in shares of Box, Inc. (NYSE:BOX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 198,815 shares of the software maker’s stock, valued at approximately $6,283,000. Madison Investment Advisors LLC owned 0.14% of BOX at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in BOX in the 3rd quarter worth about $36,000. Smartleaf Asset Management LLC increased its position in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after purchasing an additional 1,897 shares during the last quarter. Farther Finance Advisors LLC increased its position in BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after purchasing an additional 417 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BOX during the 4th quarter valued at about $132,000. Finally, Plato Investment Management Ltd acquired a new position in shares of BOX during the 4th quarter valued at about $134,000. 86.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $31.95, for a total value of $415,350.00. Following the completion of the sale, the chief financial officer now owns 1,440,684 shares in the company, valued at approximately $46,029,853.80. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 4,791 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now owns 132,741 shares of the company’s stock, valued at $4,122,935.46. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,155 shares of company stock worth $2,688,923. 4.10% of the stock is currently owned by company insiders.

BOX Trading Down 1.9 %

Shares of BOX stock opened at $30.36 on Friday. The stock has a 50 day moving average of $32.81 and a two-hundred day moving average of $32.74. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The company has a market capitalization of $4.36 billion, a P/E ratio of 37.95, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BOX has been the topic of a number of analyst reports. Citigroup increased their price objective on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley increased their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Raymond James restated an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, BOX presently has an average rating of “Moderate Buy” and an average price target of $36.60.

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.