Madison Investment Advisors LLC Invests $6.28 Million in Box, Inc. (NYSE:BOX)

Madison Investment Advisors LLC acquired a new stake in Box, Inc. (NYSE:BOX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 198,815 shares of the software maker's stock, valued at approximately $6,283,000. Madison Investment Advisors LLC owned 0.14% of BOX as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BOX. State Street Corp boosted its position 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 acquiring an additional 69,107 shares during the last quarter. Geode Capital Management LLC boosted its position in BOX by 0.4% during 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. boosted its position in 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 during the last quarter. Congress Asset Management Co. boosted its position in BOX by 17.5% during the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock worth $52,445,000 after acquiring an additional 246,993 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in BOX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,629 shares of the software maker's stock worth $44,228,000 after acquiring an additional 27,814 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BOX shares. Citigroup upped their price objective on BOX from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. StockNews.com cut BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson started coverage on BOX in a research note on Wednesday, December 18th. They set a "buy" rating and a $45.00 price objective on the stock. Royal Bank of Canada reiterated an "underperform" rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, December 4th. Finally, Raymond James reiterated an "outperform" rating and set a $38.00 price objective (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 assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, BOX presently has a consensus rating of "Moderate Buy" and an average price target of $36.60.

Insiders Place Their Bets

In other BOX news, VP Eli Berkovitch sold 4,792 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the transaction, the vice president now owns 140,172 shares in the company, valued at $4,549,983.12. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,155 shares of company stock worth $2,688,923 in the last 90 days. Company insiders own 4.10% of the company's stock.

BOX Stock Performance

BOX traded up $0.90 during trading hours on Friday, reaching $31.23. The company's stock had a trading volume of 1,714,581 shares, compared to its average volume of 1,750,086. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The company's 50-day moving average is $32.79 and its 200-day moving average is $32.77. The firm has a market cap of $4.49 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

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

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.