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

Madison Investment Advisors LLC bought a new position in Box, Inc. (NYSE:BOX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 198,815 shares of the software maker’s stock, valued at approximately $6,283,000.

A number of other hedge funds have also modified their holdings of BOX. Itau Unibanco Holding S.A. acquired a new stake in BOX during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC increased its holdings in BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after purchasing an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in BOX by 19.3% during 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. SBI Securities Co. Ltd. acquired a new stake in BOX during the 4th quarter valued at $132,000. Finally, Plato Investment Management Ltd acquired a new stake in BOX during the 4th quarter valued at $134,000. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction on Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the completion of the sale, the vice president now directly owns 132,741 shares of the company’s stock, valued at $4,122,935.46. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $31.95, for a total value of $415,350.00. Following the completion of the transaction, the chief financial officer now directly owns 1,440,684 shares of the company’s stock, valued at approximately $46,029,853.80. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,155 shares of company stock valued at $2,688,923 over the last three months. Company insiders own 4.10% of the company’s stock.

BOX Stock Down 1.9 %

Shares of BOX stock opened at $30.36 on Friday. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The business has a fifty day simple moving average of $32.81 and a 200 day simple moving average of $32.74. The stock has a market cap of $4.36 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its board has initiated a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BOX has been the subject of a number of recent analyst reports. Raymond James reaffirmed an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. William Blair reissued an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Morgan Stanley lifted their target price on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Citigroup lifted their target price on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.60.

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.