Short Interest in Box, Inc. (NYSE:BOX) Rises By 5.1%

Box, Inc. (NYSE:BOX) saw a significant increase in short interest during the month of 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. Currently, 12.7% of the company’s shares are sold short. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is presently 7.6 days.

BOX Stock Performance

Shares of BOX stock traded down $0.67 during mid-day trading on Tuesday, hitting $34.44. 1,246,102 shares of the stock were exchanged, compared to its average volume of 1,986,136. BOX has a 12-month low of $23.29 and a 12-month high of $35.74. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 43.56 and a beta of 0.86. The stock’s fifty day simple moving average is $33.04 and its two-hundred day simple moving average is $29.79.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack R. Lazar sold 2,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the sale, the director now directly owns 26,697 shares in the company, valued at $927,720.75. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,500 shares of company stock valued at $1,711,135 over the last quarter. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BOX. Congress Asset Management Co. purchased a new stake in shares of BOX in the third quarter valued at about $46,236,000. Earnest Partners LLC raised its stake in BOX by 8.5% during the 2nd quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after acquiring an additional 620,450 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of BOX by 9.8% in the 2nd 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 last quarter. Assenagon Asset Management S.A. grew its stake in shares of BOX by 143.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock valued at $6,742,000 after purchasing an additional 150,309 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after purchasing an additional 134,175 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley boosted their target price on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, August 28th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Finally, William Blair reiterated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.22.

About BOX

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.