Kesler Norman & Wride LLC Acquires Shares of 21,536 Box, Inc. (NYSE:BOX)

Kesler Norman & Wride LLC bought a new position in Box, Inc. (NYSE:BOX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,536 shares of the software maker’s stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its stake in BOX by 1.2% in the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock worth $184,042,000 after purchasing an additional 69,107 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after purchasing an additional 1,725,197 shares during the last quarter. Sei Investments Co. lifted its position in shares of BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock worth $103,857,000 after buying an additional 255,623 shares in the last quarter. Geode Capital Management LLC boosted its stake in BOX by 0.4% during the third 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 during the last quarter. Finally, Congress Asset Management Co. grew its holdings in BOX by 17.5% during the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock valued at $52,445,000 after buying an additional 246,993 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Insider Transactions at BOX

In related news, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the transaction, the vice president now owns 124,672 shares of the company’s stock, valued at $3,822,443.52. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Olivia Nottebohm sold 2,105 shares of BOX stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the sale, the chief operating officer now directly owns 427,113 shares of the company’s stock, valued at approximately $13,137,995.88. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Analyst Ratings Changes

A number of research firms recently weighed in on BOX. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. UBS Group lifted their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America began coverage on shares of BOX in a report on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price on the stock. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Raymond James restated an “outperform” rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.11.

BOX Stock Up 0.6 %

Shares of BOX stock opened at $31.52 on Thursday. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The company has a market capitalization of $4.53 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The stock’s fifty day moving average is $32.67 and its two-hundred day moving average is $32.61.

BOX announced that its board has authorized a stock 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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.