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

Box, Inc. (NYSE:BOX) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 16,050,000 shares, a drop of 8.3% from the November 15th total of 17,510,000 shares. Based on an average daily volume of 2,070,000 shares, the short-interest ratio is currently 7.8 days. Currently, 11.6% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities analysts have commented on BOX shares. Bank of America began coverage on shares of BOX in a research note on Thursday. They issued a “buy” rating and a $40.00 price target for the company. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their target price 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. Morgan Stanley lifted their price target on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.

BOX Price Performance

NYSE BOX opened at $32.49 on Monday. The company has a fifty day moving average of $33.10 and a two-hundred day moving average of $30.20. The company has a market capitalization of $4.67 billion, a PE ratio of 40.61 and a beta of 0.86. BOX has a 1 year low of $24.28 and a 1 year high of $35.74.

Insider Activity at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $32.54, for a total transaction of $325,400.00. Following the sale, the chief executive officer now directly owns 2,999,155 shares in the company, valued at $97,592,503.70. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $32.33, for a total transaction of $420,290.00. Following the completion of the transaction, the chief financial officer now directly owns 1,448,509 shares of the company’s stock, valued at approximately $46,830,295.97. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,386 shares of company stock worth $1,891,350. Insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

A number of large investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of BOX by 8.2% in the third quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker’s stock valued at $712,000 after acquiring an additional 1,646 shares during the period. Sanctuary Advisors LLC boosted its stake in BOX by 24.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker’s stock worth $1,212,000 after purchasing an additional 6,965 shares during the period. Coldstream Capital Management Inc. boosted its stake in BOX by 13.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,546 shares of the software maker’s stock worth $476,000 after purchasing an additional 1,690 shares during the period. Geode Capital Management LLC grew its position in BOX by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of BOX in the third quarter valued at about $266,000. 86.74% of the stock is owned by institutional investors and hedge funds.

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.