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

Box, Inc. (NYSE:BOX – Get Rating) was the recipient of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 7,000,000 shares, a drop of 5.5% from the December 15th total of 7,410,000 shares. Approximately 5.1% of the shares of the stock are sold short. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is currently 5.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of BOX from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, December 19th. Oppenheimer restated an “outperform” rating and set a $35.00 price objective on shares of BOX in a research report on Monday, December 5th. KeyCorp raised their price target on BOX from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Royal Bank of Canada cut BOX from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $28.00 to $24.00 in a report on Tuesday, January 10th. Finally, Credit Suisse Group started coverage on shares of BOX in a report on Monday, November 21st. They issued an “outperform” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, BOX has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Insider Activity

In related news, Director Dana L. Evan sold 3,299 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $30.00, for a total value of $98,970.00. Following the completion of the transaction, the director now owns 120,483 shares of the company’s stock, valued at approximately $3,614,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $28.10, for a total transaction of $365,300.00. Following the sale, the chief financial officer now owns 1,329,082 shares of the company’s stock, valued at approximately $37,347,204.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dana L. Evan sold 3,299 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $98,970.00. Following the completion of the transaction, the director now directly owns 120,483 shares in the company, valued at $3,614,490. The disclosure for this sale can be found here. Insiders have sold 296,919 shares of company stock worth $8,753,424 in the last three months. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Fairfield Bush & CO. purchased a new position in BOX during the 1st quarter valued at $29,000. Harbor Investment Advisory LLC boosted its stake in shares of BOX by 61.0% during the second quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock valued at $32,000 after purchasing an additional 483 shares during the period. Trust Co. of Vermont bought a new position in shares of BOX in the second quarter worth about $40,000. FNY Investment Advisers LLC purchased a new position in BOX in the 4th quarter worth about $58,000. Finally, SeaCrest Wealth Management LLC bought a new stake in BOX during the 2nd quarter valued at about $67,000. Institutional investors own 85.67% of the company’s stock.

BOX Stock Performance

NYSE:BOX opened at $31.40 on Wednesday. The firm has a market capitalization of $4.49 billion, a PE ratio of -285.45 and a beta of 1.06. The stock’s fifty day moving average is $29.80 and its 200 day moving average is $28.37. BOX has a fifty-two week low of $22.31 and a fifty-two week high of $33.04.

BOX (NYSE:BOX – Get Rating) last announced its earnings results on Wednesday, November 30th. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $249.95 million during the quarter, compared to analysts’ expectations of $250.79 million. Equities analysts forecast that BOX will post -0.09 EPS for the current year.

BOX Company Profile

(Get Rating)

Box, Inc engages in the provision of 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, box keysafe and automations.