Mitsubishi UFJ Trust & Banking Corp Raises Stake in Box, Inc. (NYSE:BOX)

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Box, Inc. (NYSE:BOX) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,155 shares of the software maker’s stock after buying an additional 486 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in BOX were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BOX. State Street Corp boosted its stake in shares of BOX by 1.2% in the third 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 period. Sei Investments Co. boosted its stake in BOX by 8.4% in the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock worth $103,857,000 after purchasing an additional 255,623 shares during the period. Geode Capital Management LLC grew its holdings 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 valued at $106,387,000 after buying an additional 13,028 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of BOX by 1.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker’s stock worth $79,376,000 after buying an additional 44,190 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in BOX by 17.5% during the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock valued at $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.

Insider Activity at BOX

In other BOX news, COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total value of $64,749.80. Following the sale, the chief operating officer now owns 427,113 shares in the company, valued at $13,137,995.88. This trade represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46. Following the sale, the vice president now directly owns 132,741 shares of the company’s stock, valued at $4,122,935.46. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,705 shares of company stock worth $2,375,998. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BOX. Bank of America assumed coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target on the stock. Morgan Stanley increased their price target on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and issued a $45.00 price objective on shares of BOX in a research note on Wednesday, March 19th. Raymond James reiterated an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, BOX currently has an average rating of “Moderate Buy” and an average price target of $37.11.

BOX Stock Up 1.5 %

NYSE BOX opened at $31.32 on Wednesday. The company has a fifty day moving average of $32.67 and a two-hundred day moving average of $32.62. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

BOX announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are 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.