Kesler Norman & Wride LLC Invests $681,000 in Box, Inc. (NYSE:BOX)

Kesler Norman & Wride LLC bought a new stake in shares of Box, Inc. (NYSE:BOX) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 21,536 shares of the software maker’s stock, valued at approximately $681,000.

Several other institutional investors also recently bought and sold shares of BOX. State Street Corp lifted its holdings in shares of BOX by 1.2% during the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock valued at $184,042,000 after purchasing an additional 69,107 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in BOX by 103.9% in 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 buying an additional 1,725,197 shares during the last quarter. Sei Investments Co. raised its stake in BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after buying an additional 255,623 shares during the last quarter. Geode Capital Management LLC boosted its holdings in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after acquiring an additional 13,028 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of BOX by 17.5% in 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 purchasing an additional 246,993 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America initiated coverage on shares of BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. DA Davidson reissued a “buy” rating and issued a $45.00 price objective on shares of BOX in a report on Wednesday, March 19th. Finally, Morgan Stanley lifted their target price on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.11.

Insider Activity

In related news, COO Olivia Nottebohm sold 2,105 shares of the business’s 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 completion of the sale, the chief operating officer now owns 427,113 shares of the company’s stock, valued at approximately $13,137,995.88. The trade was a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,705 shares of company stock worth $2,375,998 in the last ninety days. Company insiders own 4.10% of the company’s stock.

BOX Stock Performance

BOX stock opened at $31.52 on Thursday. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The firm’s fifty day moving average is $32.67 and its 200 day moving average is $32.61. The firm has a market cap of $4.53 billion, a PE ratio of 39.40, a P/E/G ratio of 4.42 and a beta of 1.00.

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

About BOX

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.