Northern Trust Corp Grows Position in Box, Inc. (NYSE:BOX)

Northern Trust Corp grew its position in Box, Inc. (NYSE:BOX - Free Report) by 7.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,657,127 shares of the software maker's stock after buying an additional 113,822 shares during the period. Northern Trust Corp owned 1.15% of BOX worth $52,365,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Integrated Quantitative Investments LLC acquired a new stake in BOX in the 4th quarter worth approximately $1,418,000. Bryce Point Capital LLC purchased a new position in BOX during the 4th quarter worth approximately $1,620,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in BOX during the 4th quarter valued at approximately $5,997,000. Robeco Institutional Asset Management B.V. acquired a new stake in BOX during the 4th quarter valued at approximately $981,000. Finally, Sei Investments Co. lifted its stake in BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock valued at $103,857,000 after acquiring an additional 255,623 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Olivia Nottebohm sold 1,332 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total value of $38,641.32. Following the transaction, the chief operating officer now owns 492,545 shares in the company, valued at $14,288,730.45. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aaron Levie sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,943 shares of company stock valued at $1,542,645. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on BOX. Raymond James restated an "outperform" rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. DA Davidson decreased their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada restated an "underperform" rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. One investment 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. Based on data from MarketBeat, BOX presently has an average rating of "Moderate Buy" and an average target price of $36.44.

BOX Stock Up 0.7%

Shares of NYSE:BOX traded up $0.23 during trading on Tuesday, hitting $32.10. 144,844 shares of the stock traded hands, compared to its average volume of 1,810,319. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 40.13, a P/E/G ratio of 4.42 and a beta of 0.94. The company has a fifty day moving average price of $30.68 and a two-hundred day moving average price of $32.18. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74.

BOX announced that its board has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership 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.