BOX Sees Unusually High Options Volume (NYSE:BOX)

Box, Inc. (NYSE:BOX) saw unusually large options trading on Friday. Investors purchased 2,272 call options on the stock. This is an increase of approximately 75% compared to the average volume of 1,295 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup raised their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley increased their price objective on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research note on Friday, August 16th. UBS Group increased their price target on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, William Blair restated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.22.

BOX Stock Up 2.3 %

Shares of NYSE BOX opened at $34.28 on Friday. BOX has a 52 week low of $23.29 and a 52 week high of $35.07. The business’s 50 day moving average price is $32.77 and its 200 day moving average price is $29.40. The firm has a market cap of $4.91 billion, a P/E ratio of 43.39 and a beta of 0.85.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The business had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, research analysts expect that BOX will post 0.23 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the sale, the chief executive officer now owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jack R. Lazar sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the transaction, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $1,939,895 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOX

Several institutional investors and hedge funds have recently modified their holdings of BOX. Coldstream Capital Management Inc. increased its holdings in shares of BOX by 13.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,546 shares of the software maker’s stock valued at $476,000 after purchasing an additional 1,690 shares in the last quarter. Geode Capital Management LLC increased its holdings in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock valued at $106,387,000 after buying an additional 13,028 shares in the last quarter. MML Investors Services LLC purchased a new position in BOX in the third quarter valued at $266,000. XTX Topco Ltd raised its position in shares of BOX by 17.8% in the third quarter. XTX Topco Ltd now owns 38,002 shares of the software maker’s stock worth $1,244,000 after acquiring an additional 5,736 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of BOX by 1.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 86,012 shares of the software maker’s stock worth $2,781,000 after acquiring an additional 1,607 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

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.