Short Interest in Box, Inc. (NYSE:BOX) Declines By 8.3%

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 trading volume, of 2,070,000 shares, the short-interest ratio is currently 7.8 days. Currently, 11.6% of the company’s stock are short sold.

BOX Trading Down 0.2 %

Shares of BOX stock opened at $32.06 on Wednesday. The company has a 50-day moving average of $33.11 and a two-hundred day moving average of $30.27. BOX has a 12-month low of $24.28 and a 12-month high of $35.74. The stock has a market cap of $4.61 billion, a PE ratio of 40.08 and a beta of 0.86.

Analyst Ratings Changes

Several equities analysts recently issued reports on BOX shares. Citigroup boosted 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. Morgan Stanley upped their price target on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. 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 price objective for the company. Finally, StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BOX presently has an average rating of “Moderate Buy” and a consensus price target of $34.75.

Insider Activity at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 1,448,509 shares of the company’s stock, valued at approximately $46,830,295.97. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack R. Lazar sold 2,500 shares of BOX stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total transaction of $86,875.00. Following the completion of the transaction, the director now owns 26,697 shares in the company, valued at approximately $927,720.75. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,386 shares of company stock valued at $1,891,350 in the last ninety days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Several hedge funds have recently bought and sold shares of BOX. Itau Unibanco Holding S.A. acquired a new stake in BOX in the third quarter valued at $36,000. Quarry LP increased its holdings in BOX by 324.6% during the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after acquiring an additional 1,084 shares in the last quarter. GAMMA Investing LLC increased its holdings in BOX by 143.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after acquiring an additional 787 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of BOX in the second quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC grew its position in shares of BOX by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

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.