KLP Kapitalforvaltning AS Invests $1.99 Million in Box, Inc. (NYSE:BOX)

KLP Kapitalforvaltning AS acquired a new stake in shares of Box, Inc. (NYSE:BOX) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 63,000 shares of the software maker’s stock, valued at approximately $1,991,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after purchasing an additional 134,175 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in BOX during the 4th quarter worth approximately $5,997,000. Townsquare Capital LLC bought a new stake in BOX during the 3rd quarter worth approximately $2,021,000. Robeco Institutional Asset Management B.V. bought a new position in shares of BOX during the fourth quarter valued at $981,000. Finally, Petrus Trust Company LTA bought a new position in shares of BOX during the third quarter valued at $615,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.32, for a total transaction of $446,160.00. Following the transaction, the chief financial officer now directly owns 1,453,684 shares of the company’s stock, valued at approximately $49,890,434.88. This represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Olivia Nottebohm sold 6,079 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total value of $193,980.89. Following the completion of the sale, the chief operating officer now directly owns 447,067 shares of the company’s stock, valued at $14,265,907.97. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,705 shares of company stock worth $2,375,998. 4.10% of the stock is currently owned by company insiders.

BOX Stock Up 2.0 %

NYSE:BOX opened at $31.61 on Friday. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The company has a fifty day moving average of $32.70 and a 200-day moving average of $32.66. The firm has a market capitalization of $4.55 billion, a P/E ratio of 39.52, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on BOX. StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. DA Davidson restated a “buy” rating and set a $45.00 price objective on shares of BOX in a research report on Wednesday, March 19th. Morgan Stanley upped their target price on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, BOX currently 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.