Jupiter Asset Management Ltd. Buys New Stake in Box, Inc. (NYSE:BOX)

Jupiter Asset Management Ltd. purchased a new position in Box, Inc. (NYSE:BOX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 766,907 shares of the software maker's stock, valued at approximately $24,234,000. Jupiter Asset Management Ltd. owned approximately 0.53% of BOX as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in shares of BOX by 1.2% in the third 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 last quarter. Geode Capital Management LLC increased its stake in BOX by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock worth $106,387,000 after acquiring an additional 13,028 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of BOX by 1.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker's stock worth $79,376,000 after acquiring an additional 44,190 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of BOX by 17.5% during the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock valued at $52,445,000 after acquiring an additional 246,993 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of BOX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,629 shares of the software maker's stock valued at $44,228,000 after purchasing an additional 27,814 shares in the last quarter. Institutional investors own 86.74% of the company's stock.

Insider Buying and Selling at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the transaction, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,155 shares of company stock valued at $2,688,923 in the last quarter. 4.10% of the stock is owned by insiders.

BOX Stock Performance

BOX opened at $30.93 on Thursday. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 4.42 and a beta of 1.00. The stock's 50 day moving average price is $32.81 and its 200-day moving average price is $32.74.

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BOX announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BOX. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson assumed coverage on shares of BOX in a research report on Wednesday, December 18th. They set a "buy" rating and a $45.00 target price on the stock. Morgan Stanley lifted their price target on BOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Raymond James reissued an "outperform" rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.60.

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.

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