Stock Traders Purchase High Volume of Call Options on BOX (NYSE:BOX)

Box, Inc. (NYSE:BOX) saw some unusual options trading on Wednesday. Stock investors bought 10,767 call options on the stock. This is an increase of 432% compared to the average volume of 2,025 call options.

Insiders Place Their Bets

In related news, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $32.81, for a total value of $492,150.00. Following the sale, the chief executive officer owned 2,937,030 shares of the company’s stock, valued at approximately $96,363,954.30. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 5,000 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $32.20, for a total transaction of $161,000.00. Following the completion of the sale, the director directly owned 27,855 shares of the company’s stock, valued at approximately $896,931. The trade was a 15.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 122,336 shares of company stock valued at $3,986,999. 3.90% of the stock is owned by insiders.

Institutional Trading of BOX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of BOX by 7,130.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 723 shares of the software maker’s stock worth $25,000 after acquiring an additional 713 shares during the period. Salomon & Ludwin LLC purchased a new position in BOX during the third quarter worth about $32,000. Geneos Wealth Management Inc. acquired a new position in BOX in the 1st quarter valued at about $31,000. Employees Retirement System of Texas purchased a new stake in shares of BOX in the 3rd quarter valued at approximately $35,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of BOX in the 2nd quarter valued at approximately $41,000. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Stock Performance

NYSE:BOX opened at $31.77 on Friday. BOX has a one year low of $28.00 and a one year high of $38.80. The stock has a market cap of $4.60 billion, a PE ratio of 25.62 and a beta of 0.79. The stock has a 50 day moving average price of $31.77 and a 200 day moving average price of $32.74.

Analyst Ratings Changes

A number of research firms have recently commented on BOX. Citigroup boosted their target price on shares of BOX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Raymond James Financial reiterated an “outperform” rating and set a $42.00 price objective on shares of BOX in a research note on Wednesday, August 27th. DA Davidson reissued a “buy” rating and set a $45.00 target price on shares of BOX in a report on Wednesday. Zacks Research lowered BOX from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, UBS Group cut BOX from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $36.00 in a research report on Thursday, September 18th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.25.

BOX Company Profile

Box, Inc engages in the provision of an 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, and Box KeySafe.