BOX Target of Unusually Large Options Trading (NYSE:BOX)

Box, Inc. (NYSE:BOX - Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders purchased 7,181 call options on the stock. This is an increase of approximately 626% compared to the typical volume of 989 call options.

Analyst Upgrades and Downgrades

BOX has been the topic of several recent analyst reports. DA Davidson raised their price objective on BOX from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and lifted their price objective for the stock from $37.00 to $40.00 in a report on Wednesday. Finally, Raymond James reaffirmed an "outperform" rating and set a $42.00 price objective (up from $38.00) on shares of BOX in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, BOX currently has an average rating of "Moderate Buy" and a consensus price target of $38.11.

Insider Activity at BOX

In related news, COO Olivia Nottebohm sold 2,105 shares of BOX stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the sale, the chief operating officer now owns 427,113 shares of the company's stock, valued at approximately $13,137,995.88. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Monday, March 10th. The shares were sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the sale, the chief financial officer now directly owns 1,440,684 shares of the company's stock, valued at approximately $46,029,853.80. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,377 shares of company stock valued at $2,060,714. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOX

A number of hedge funds and other institutional investors have recently made changes to their positions in BOX. Arrowstreet Capital Limited Partnership raised its stake in BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the period. Norges Bank bought a new stake in BOX in the 4th quarter valued at about $29,973,000. Jupiter Asset Management Ltd. bought a new stake in BOX in the 4th quarter valued at about $24,234,000. Fisher Asset Management LLC raised its stake in BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after acquiring an additional 692,784 shares during the period. Finally, Sunriver Management LLC raised its stake in BOX by 62.9% in the 1st quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker's stock valued at $47,736,000 after acquiring an additional 597,410 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Trading Up 1.4%

Shares of NYSE:BOX traded up $0.51 during midday trading on Thursday, reaching $37.38. The company had a trading volume of 12,781,958 shares, compared to its average volume of 1,911,273. The company's 50 day moving average price is $31.05 and its 200 day moving average price is $32.16. The stock has a market cap of $5.38 billion, a P/E ratio of 46.73, a P/E/G ratio of 4.42 and a beta of 0.94. BOX has a 52-week low of $24.63 and a 52-week high of $37.66.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 13.96% and a negative return on equity of 17.20%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Research analysts forecast that BOX will post 0.27 EPS for the current fiscal year.

BOX declared that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.