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

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Asset Management Ltd. acquired a new position in shares of BOX in the 4th quarter valued at about $24,234,000. Farther Finance Advisors LLC lifted its stake in shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after purchasing an additional 417 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of BOX by 14.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,427 shares of the software maker's stock valued at $1,119,000 after purchasing an additional 4,588 shares in the last quarter. Amundi lifted its stake in shares of BOX by 41.2% in the 4th quarter. Amundi now owns 170,619 shares of the software maker's stock valued at $5,344,000 after purchasing an additional 49,780 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of BOX in the 4th quarter valued at about $2,671,000. 86.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BOX has been the topic of several recent research reports. Morgan Stanley boosted 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. UBS Group boosted their price target on BOX from $34.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price target on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an "underperform" rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, December 4th. Finally, DA Davidson initiated coverage on BOX in a research report on Wednesday, December 18th. They set a "buy" rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, BOX currently has an average rating of "Moderate Buy" and a consensus target price of $36.60.

Remove Ads

BOX Trading Up 3.0 %

BOX stock traded up $0.90 during midday trading on Friday, hitting $31.23. 1,714,581 shares of the company's stock were exchanged, compared to its average volume of 1,750,086. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The firm has a 50 day moving average price of $32.79 and a 200-day moving average price of $32.77. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has approved a share buyback program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, CFO Dylan C. Smith sold 13,000 shares of the business'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 value of $403,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction that occurred on 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 owns 2,979,780 shares of the company's stock, valued at $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,155 shares of company stock worth $2,688,923. 4.10% of the stock is currently owned by insiders.

About BOX

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.