Box Inc (NYSE:BOX) Short Interest Up 9.9% in June

Box Inc (NYSE:BOX) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 6,159,200 shares, a growth of 9.9% from the May 15th total of 5,601,900 shares. Currently, 4.5% of the company’s stock are short sold. Based on an average trading volume of 2,200,000 shares, the short-interest ratio is currently 2.8 days.

A number of equities research analysts recently issued reports on the company. Canaccord Genuity increased their price target on from GBX 91 ($1.19) to GBX 109 ($1.42) and gave the stock a “hold” rating in a research report on Tuesday, June 4th. Deutsche Bank reduced their price target on BOX from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, June 4th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. JMP Securities cut their target price on BOX from $24.00 to $21.00 and set a “market outperform” rating for the company in a research note on Tuesday, June 4th. Finally, Morgan Stanley set a $17.00 target price on BOX and gave the stock a “hold” rating in a research note on Tuesday, June 4th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. BOX has a consensus rating of “Buy” and a consensus target price of $21.82.

Shares of BOX stock opened at $17.51 on Friday. The company has a debt-to-equity ratio of 10.68, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s 50-day simple moving average is $17.97. BOX has a 1-year low of $15.30 and a 1-year high of $27.56. The firm has a market cap of $2.57 billion, a P/E ratio of -18.24 and a beta of 1.37.

BOX (NYSE:BOX) last issued its earnings results on Monday, June 3rd. The software maker reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $163.00 million during the quarter, compared to the consensus estimate of $161.46 million. BOX had a negative return on equity of 446.05% and a negative net margin of 21.37%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the business posted ($0.07) EPS. Analysts forecast that BOX will post -0.96 earnings per share for the current fiscal year.

In other news, CFO Dylan C. Smith sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.10, for a total value of $301,500.00. Following the transaction, the chief financial officer now owns 1,099,280 shares of the company’s stock, valued at $22,095,528. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Josh Stein sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $18.19, for a total value of $363,800.00. Following the completion of the transaction, the director now directly owns 3,699 shares in the company, valued at approximately $67,284.81. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $935,600 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Natixis Advisors L.P. lifted its position in BOX by 5.1% in the 4th quarter. Natixis Advisors L.P. now owns 24,412 shares of the software maker’s stock valued at $412,000 after acquiring an additional 1,183 shares in the last quarter. Sageworth Trust Co bought a new position in shares of BOX during the 1st quarter worth approximately $26,000. First Republic Investment Management Inc. lifted its position in shares of BOX by 3.0% during the 1st quarter. First Republic Investment Management Inc. now owns 50,906 shares of the software maker’s stock worth $983,000 after buying an additional 1,500 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of BOX during the 1st quarter worth approximately $31,000. Finally, Congress Park Capital LLC lifted its position in shares of BOX by 15.8% during the 1st quarter. Congress Park Capital LLC now owns 12,100 shares of the software maker’s stock worth $234,000 after buying an additional 1,650 shares in the last quarter. 65.95% of the stock is currently owned by institutional investors and hedge funds.

About BOX

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.

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