Box, Inc. (NYSE:BOX) Short Interest Update

Box, Inc. (NYSE:BOX) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 12,400,000 shares, a growth of 6.0% from the May 15th total of 11,700,000 shares. Based on an average trading volume of 2,230,000 shares, the days-to-cover ratio is presently 5.6 days. Approximately 8.8% of the company’s shares are sold short.

BOX Trading Down 1.4 %

NYSE BOX opened at $25.68 on Tuesday. BOX has a 12 month low of $23.29 and a 12 month high of $31.94. The stock has a 50 day moving average of $26.66 and a 200-day moving average of $26.60. The company has a market cap of $3.71 billion, a PE ratio of 35.18, a PEG ratio of 7.49 and a beta of 0.83.

Insider Buying and Selling

In other BOX news, Director Dana L. Evan sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $28.47, for a total value of $313,170.00. Following the completion of the sale, the director now owns 116,535 shares of the company’s stock, valued at $3,317,751.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $27.30, for a total transaction of $354,900.00. Following the transaction, the chief financial officer now owns 1,578,912 shares in the company, valued at approximately $43,104,297.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dana L. Evan sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $28.47, for a total value of $313,170.00. Following the completion of the transaction, the director now owns 116,535 shares of the company’s stock, valued at $3,317,751.45. The disclosure for this sale can be found here. Insiders have sold 123,660 shares of company stock valued at $3,441,994 in the last 90 days. 4.10% of the stock is owned by insiders.

Institutional Trading of BOX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of BOX in the 1st quarter valued at about $1,096,000. Comerica Bank raised its stake in BOX by 964.7% in the first quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock valued at $2,409,000 after buying an additional 77,090 shares during the period. Tidal Investments LLC bought a new stake in BOX in the first quarter valued at approximately $391,000. Jacobs Levy Equity Management Inc. lifted its position in shares of BOX by 19.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,374,580 shares of the software maker’s stock valued at $67,248,000 after buying an additional 386,149 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its stake in shares of BOX by 799.2% during the 1st quarter. Bayesian Capital Management LP now owns 98,900 shares of the software maker’s stock worth $2,801,000 after acquiring an additional 87,901 shares during the period. 86.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BOX. Citigroup increased their price objective on shares of BOX from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JMP Securities reissued a “market outperform” rating and issued a $32.00 price target on shares of BOX in a research note on Wednesday, March 20th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, May 29th. Morgan Stanley decreased their price objective on BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, May 29th. Finally, TheStreet upgraded BOX from a “c” rating to a “b” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

About BOX

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.