Resona Asset Management Co. Ltd. Acquires Shares of 25,827 Box, Inc. (NYSE:BOX)

Resona Asset Management Co. Ltd. purchased a new position in Box, Inc. (NYSE:BOX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,827 shares of the software maker’s stock, valued at approximately $816,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its holdings in BOX by 1.2% during the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock worth $184,042,000 after purchasing an additional 69,107 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Sei Investments Co. boosted its stake in BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after acquiring an additional 255,623 shares in the last quarter. Geode Capital Management LLC grew its holdings in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in shares of BOX by 17.5% during the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock worth $52,445,000 after purchasing an additional 246,993 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

BOX has been the subject of a number of recent analyst reports. Raymond James reissued an “outperform” rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. Finally, DA Davidson reissued a “buy” rating and set a $45.00 target price on shares of BOX in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.11.

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. The trade was a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.32, for a total value of $446,160.00. Following the completion of the sale, the chief financial officer now owns 1,453,684 shares in the company, valued at $49,890,434.88. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,246 shares of company stock worth $1,862,181 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

BOX Trading Down 0.7 %

Shares of NYSE:BOX opened at $30.08 on Friday. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The company’s 50 day moving average is $32.17 and its 200 day moving average is $32.43. The company has a market cap of $4.33 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96.

BOX announced that its board has approved a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

BOX Company 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.