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

Resona Asset Management Co. Ltd. purchased a new stake in shares of Box, Inc. (NYSE:BOX - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 25,827 shares of the software maker's stock, valued at approximately $816,000.

Several other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock worth $247,000 after buying an additional 391 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of BOX by 19.3% during the fourth 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 in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock worth $1,189,000 after purchasing an additional 423 shares in the last quarter. Aspiriant LLC increased its position in shares of BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker's stock worth $286,000 after purchasing an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in BOX by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock valued at $548,000 after purchasing an additional 442 shares in the last quarter. Institutional investors own 86.74% of the company's stock.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 1,332 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the transaction, the chief operating officer now owns 492,545 shares of the company's stock, valued at $14,288,730.45. This represents a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on 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 approximately $49,890,434.88. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,996 shares of company stock valued at $2,329,886 over the last three months. 4.10% of the stock is owned by company insiders.

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BOX Trading Down 0.7 %

BOX stock traded down $0.20 during midday trading on Tuesday, hitting $29.91. The company had a trading volume of 771,022 shares, compared to its average volume of 1,815,464. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 4.42 and a beta of 0.96. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The stock's 50 day moving average price is $32.02 and its 200 day moving average price is $32.40.

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 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 generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Raymond James reaffirmed an "outperform" rating and set a $38.00 price target (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. DA Davidson cut their price objective on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday. Finally, Royal Bank of Canada reissued an "underperform" rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.56.

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.