Jupiter Asset Management Ltd. Takes $24.23 Million Position in Box, Inc. (NYSE:BOX)

Jupiter Asset Management Ltd. acquired a new stake in shares of Box, Inc. (NYSE:BOX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 766,907 shares of the software maker’s stock, valued at approximately $24,234,000.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in BOX in the third quarter valued at about $36,000. Farther Finance Advisors LLC boosted its holdings in shares of BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after buying an additional 1,536 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after buying an additional 1,897 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BOX during the 4th quarter worth approximately $132,000. Finally, Plato Investment Management Ltd bought a new position in shares of BOX during the 4th quarter worth approximately $134,000. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Stock Down 1.5 %

BOX stock opened at $30.93 on Thursday. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The stock has a 50-day moving average price of $32.81 and a 200 day moving average price of $32.74. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX announced that its board has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BOX shares. Raymond James restated an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley upped their target price on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Finally, UBS Group boosted their price target on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.60.

Insider Buying and Selling at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $31.05, for a total value 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 represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.06, for a total value of $148,808.46. Following the transaction, the vice president now owns 132,741 shares of the company’s stock, valued at $4,122,935.46. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,155 shares of company stock worth $2,688,923. 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.