Mitsubishi UFJ Trust & Banking Corp Purchases 486 Shares of Box, Inc. (NYSE:BOX)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Box, Inc. (NYSE:BOX) by 2.8% during the 4th quarter, Holdings Channel reports. The fund owned 18,155 shares of the software maker’s stock after buying an additional 486 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in BOX were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BOX. Jupiter Asset Management Ltd. bought a new position in shares of BOX during the fourth quarter valued at approximately $24,234,000. Fisher Asset Management LLC lifted its holdings in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after buying an additional 692,784 shares during the period. Raymond James Financial Inc. bought a new stake in BOX during the 4th quarter valued at $8,405,000. Sei Investments Co. boosted its position in BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after acquiring an additional 255,623 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of BOX by 17.5% in 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 in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Price Performance

Shares of BOX stock opened at $31.32 on Wednesday. The business has a fifty day moving average of $32.67 and a 200 day moving average of $32.62. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has initiated a share buyback plan 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 plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares of the company’s stock, valued at approximately $45,540,538.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,705 shares of company stock worth $2,375,998 over the last three months. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BOX shares. StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Bank of America started coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. UBS Group lifted their price target on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, BOX has a consensus rating of “Moderate Buy” and an average price target of $37.11.

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.