25,827 Shares in Box, Inc. (NYSE:BOX) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in Box, Inc. (NYSE:BOX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,827 shares of the software maker's stock, valued at approximately $816,000.

Several other institutional investors have also recently added to or reduced their stakes in BOX. Arrowstreet Capital Limited Partnership increased its stake in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after purchasing an additional 1,725,197 shares during the last quarter. Norges Bank bought a new stake in shares of BOX during the 4th quarter worth $29,973,000. Jupiter Asset Management Ltd. purchased a new position in BOX in the 4th quarter worth about $24,234,000. Fisher Asset Management LLC lifted its position in shares of BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after acquiring an additional 692,784 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after purchasing an additional 304,755 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Trading Up 0.9 %

BOX stock traded up $0.27 on Wednesday, reaching $30.22. 262,877 shares of the stock were exchanged, compared to its average volume of 1,697,195. The stock has a market cap of $4.35 billion, a PE ratio of 37.79, a PEG ratio of 4.42 and a beta of 0.96. The firm has a fifty day moving average price of $31.93 and a two-hundred day moving average price of $32.38. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74.

BOX announced that its board has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

BOX has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, March 19th. Morgan Stanley lowered their price objective on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Raymond James reiterated an "outperform" rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. DA Davidson dropped their price target on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday. Finally, StockNews.com cut BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, BOX currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.44.

Insider Activity at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.72, for a total transaction of $386,360.00. Following the sale, the chief financial officer now owns 1,463,951 shares in the company, valued at $43,508,623.72. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Olivia Nottebohm sold 1,332 shares of the stock in a transaction on Monday, April 7th. The shares were 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 approximately $14,288,730.45. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,996 shares of company stock worth $2,329,886. Company insiders own 4.10% of the company's stock.

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.