Box, Inc. (NYSE:BOX) Sees Large Growth in Short Interest

Box, Inc. (NYSE:BOX) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 17,510,000 shares, a growth of 5.1% from the October 31st total of 16,660,000 shares. Currently, 12.7% of the company’s shares are sold short. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is currently 7.6 days.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $32.52, for a total transaction of $422,760.00. Following the transaction, the chief financial officer now owns 1,474,509 shares of the company’s stock, valued at approximately $47,951,032.68. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the transaction, the chief executive officer now directly owns 3,009,155 shares in the company, valued at $99,061,382.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,500 shares of company stock valued at $1,711,135 in the last quarter. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BOX. Tidal Investments LLC acquired a new position in BOX during the 1st quarter valued at approximately $391,000. Comerica Bank increased its holdings in BOX by 964.7% in the 1st quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock worth $2,409,000 after buying an additional 77,090 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in BOX during the 1st quarter worth approximately $1,096,000. Harbor Capital Advisors Inc. lifted its stake in BOX by 57.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 25,956 shares of the software maker’s stock valued at $686,000 after acquiring an additional 9,477 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of BOX by 80.7% in the 2nd quarter. SG Americas Securities LLC now owns 15,794 shares of the software maker’s stock valued at $418,000 after acquiring an additional 7,053 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Morgan Stanley increased their price target on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Citigroup raised their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, UBS Group raised their price objective on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and an average price target of $31.22.

BOX Stock Down 2.1 %

NYSE BOX opened at $34.37 on Wednesday. BOX has a 52 week low of $23.29 and a 52 week high of $35.74. The firm has a market cap of $4.92 billion, a PE ratio of 43.51 and a beta of 0.86. The company has a 50 day moving average price of $33.07 and a 200 day moving average price of $29.84.

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.