Box, Inc. (NYSE:BOX) Short Interest Up 5.1% in November

Box, Inc. (NYSE:BOX) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 17,510,000 shares, an increase of 5.1% from the October 31st total of 16,660,000 shares. Approximately 12.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,310,000 shares, the days-to-cover ratio is presently 7.6 days.

BOX Price Performance

NYSE BOX traded down $0.67 on Tuesday, reaching $34.44. The company had a trading volume of 1,246,102 shares, compared to its average volume of 1,986,136. The firm has a market capitalization of $4.93 billion, a PE ratio of 43.56 and a beta of 0.86. The firm has a 50-day moving average of $33.04 and a 200-day moving average of $29.79. BOX has a 1 year low of $23.29 and a 1 year high of $35.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BOX shares. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a research report on Friday, August 16th. William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup upped their price objective on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

Insider Activity at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total value of $427,570.00. Following the completion of the transaction, the chief financial officer now directly owns 1,500,661 shares of the company’s stock, valued at $49,356,740.29. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jack R. Lazar sold 2,500 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total value of $86,875.00. Following the sale, the director now directly owns 26,697 shares in the company, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,500 shares of company stock worth $1,711,135 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BOX

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in BOX by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker’s stock valued at $712,000 after purchasing an additional 1,646 shares in the last quarter. 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 valued at $1,212,000 after acquiring an additional 6,965 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings 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 acquiring an additional 1,690 shares in the last quarter. Geode Capital Management LLC increased its position in shares of BOX by 0.4% in 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 acquired a new stake in shares of BOX in the 3rd quarter valued at about $266,000. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Company Profile

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.