Stock Traders Buy Large Volume of BOX Call Options (NYSE:BOX)

Box, Inc. (NYSE:BOX) saw unusually large options trading activity on Wednesday. Traders purchased 10,767 call options on the company. This is an increase of 432% compared to the average daily volume of 2,025 call options.

BOX Stock Up 6.6%

Shares of NYSE BOX opened at $32.16 on Thursday. The firm’s 50-day moving average price is $31.78 and its 200-day moving average price is $32.74. BOX has a 52-week low of $28.00 and a 52-week high of $38.80. The company has a market cap of $4.66 billion, a PE ratio of 25.94 and a beta of 0.79.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BOX shares. Zacks Research cut shares of BOX from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Citigroup upped their price objective on shares of BOX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Royal Bank Of Canada lifted their target price on shares of BOX from $24.00 to $26.00 and gave the company an “underperform” rating in a research note on Wednesday, August 27th. UBS Group cut shares of BOX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $36.00 in a research report on Thursday, September 18th. Finally, Weiss Ratings lowered shares of BOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 28th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.25.

Insider Buying and Selling

In other news, VP Eli Berkovitch sold 3,500 shares of the company’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $32.77, for a total value of $114,695.00. Following the completion of the transaction, the vice president directly owned 128,847 shares in the company, valued at approximately $4,222,316.19. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Olivia Nottebohm sold 4,612 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $31.35, for a total transaction of $144,586.20. Following the transaction, the chief operating officer directly owned 497,639 shares in the company, valued at approximately $15,600,982.65. This represents a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 122,336 shares of company stock valued at $3,986,999 in the last three months. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOX. Caitong International Asset Management Co. Ltd increased its stake in BOX by 7,130.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 723 shares of the software maker’s stock worth $25,000 after buying an additional 713 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of BOX in the first quarter worth about $31,000. Salomon & Ludwin LLC purchased a new stake in shares of BOX during the third quarter worth about $32,000. Employees Retirement System of Texas purchased a new stake in shares of BOX during the third quarter worth about $35,000. Finally, CIBC Private Wealth Group LLC raised its stake in BOX by 1,778.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,202 shares of the software maker’s stock valued at $39,000 after purchasing an additional 1,138 shares during the period. Institutional investors own 86.74% of the company’s stock.

BOX Company Profile

Box, Inc engages in the provision of an 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, and Box KeySafe.