Box, Inc. (NYSE:BOX – Get Rating) was the target of a significant decrease in short interest in December. As of December 30th, there was short interest totalling 7,000,000 shares, a decrease of 5.5% from the December 15th total of 7,410,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is presently 5.9 days. Currently, 5.1% of the company’s stock are sold short.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on BOX shares. Credit Suisse Group started coverage on BOX in a research note on Monday, November 21st. They issued an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley upped their price objective on BOX from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Royal Bank of Canada downgraded BOX from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Tuesday, January 10th. StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 18th. Finally, Oppenheimer restated an “outperform” rating and issued a $35.00 price objective on shares of BOX in a research note on Monday, December 5th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.
Insider Buying and Selling
In related news, Director Dana L. Evan sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $31.32, for a total transaction of $156,600.00. Following the completion of the sale, the director now owns 130,179 shares in the company, valued at $4,077,206.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 1,329,082 shares in the company, valued at $37,347,204.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dana L. Evan sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $31.32, for a total value of $156,600.00. Following the sale, the director now owns 130,179 shares of the company’s stock, valued at approximately $4,077,206.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 296,919 shares of company stock worth $8,753,424. 5.20% of the stock is owned by corporate insiders.
Institutional Trading of BOX
Institutional investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC raised its holdings in shares of BOX by 32.3% in the 3rd quarter. Harbor Investment Advisory LLC now owns 1,687 shares of the software maker’s stock valued at $41,000 after acquiring an additional 412 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of BOX by 6.1% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 8,632 shares of the software maker’s stock valued at $217,000 after acquiring an additional 497 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of BOX by 2.1% in the 3rd quarter. Pathstone Family Office LLC now owns 24,571 shares of the software maker’s stock valued at $599,000 after acquiring an additional 497 shares in the last quarter. Strs Ohio raised its holdings in shares of BOX by 6.0% in the 2nd quarter. Strs Ohio now owns 8,800 shares of the software maker’s stock valued at $221,000 after acquiring an additional 500 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of BOX by 2.0% in the 3rd quarter. Boston Partners now owns 27,403 shares of the software maker’s stock valued at $668,000 after acquiring an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.
BOX Stock Performance
BOX stock opened at $30.99 on Monday. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -281.73 and a beta of 1.06. BOX has a fifty-two week low of $22.31 and a fifty-two week high of $33.04. The stock has a fifty day moving average of $29.70 and a 200-day moving average of $28.30.
BOX (NYSE:BOX – Get Rating) last issued its quarterly earnings data on Wednesday, November 30th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $249.95 million for the quarter, compared to analysts’ expectations of $250.79 million. Equities analysts predict that BOX will post -0.09 EPS for the current year.
About BOX
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.