Box, Inc. (NYSE:BOX) Short Interest Down 8.3% in November

Box, Inc. (NYSE:BOX) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 16,050,000 shares, a decline of 8.3% from the November 15th total of 17,510,000 shares. Based on an average trading volume of 2,070,000 shares, the days-to-cover ratio is presently 7.8 days. Currently, 11.6% of the shares of the company are sold short.

BOX Stock Performance

Shares of BOX stock opened at $32.14 on Tuesday. BOX has a 52-week low of $24.28 and a 52-week high of $35.74. The company has a fifty day moving average of $33.11 and a 200-day moving average of $30.24. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 40.18 and a beta of 0.86.

Insider Buying and Selling at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.52, for a total transaction of $422,760.00. Following the completion of the transaction, the chief financial officer now owns 1,474,509 shares of the company’s stock, valued at $47,951,032.68. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Levin sold 5,886 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $32.50, for a total transaction of $191,295.00. Following the completion of the sale, the director now directly owns 51,530 shares in the company, valued at approximately $1,674,725. The trade was a 10.25 % 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 90 days. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of BOX

Several institutional investors have recently added to or reduced their stakes in the business. Congress Asset Management Co. bought a new stake in shares of BOX in the 3rd quarter valued at about $46,236,000. Earnest Partners LLC lifted its position in BOX by 8.5% in the second quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after purchasing an additional 620,450 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BOX by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock valued at $67,809,000 after purchasing an additional 229,314 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of BOX by 143.6% in the second quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock worth $6,742,000 after purchasing an additional 150,309 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in BOX by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after buying an additional 134,175 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BOX. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Friday. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. UBS Group raised their target price on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their price target on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $34.75.

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.