Investors Buy High Volume of Box Put Options (BOX)
Box, Inc. (NYSE:BOX) saw some unusual options trading activity on Wednesday. Investors purchased 5,432 put options on the stock. This is an increase of approximately 882% compared to the typical volume of 553 put options.
Box (BOX) opened at 19.06 on Friday. Box has a 52-week low of $13.50 and a 52-week high of $20.91. The company’s 50 day moving average is $19.14 and its 200-day moving average is $18.09. The stock’s market cap is $2.51 billion.
Box (NYSE:BOX) last released its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Box had a negative net margin of 34.11% and a negative return on equity of 207.36%. The firm had revenue of $122.94 million during the quarter, compared to the consensus estimate of $121.75 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. Box’s revenue was up 28.4% compared to the same quarter last year. On average, equities analysts anticipate that Box will post ($0.45) earnings per share for the current year.
Several brokerages recently issued reports on BOX. BidaskClub raised shares of Box from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 price objective on shares of Box in a research note on Wednesday, August 16th. Drexel Hamilton reaffirmed a “buy” rating and set a $28.00 price objective on shares of Box in a research note on Monday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price objective on shares of Box in a research note on Friday. Finally, Mitsubishi UFJ Financial Group raised shares of Box to an “overweight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $22.24.
In related news, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.28, for a total transaction of $731,200.00. Following the completion of the sale, the chief operating officer now owns 3,752 shares of the company’s stock, valued at approximately $68,586.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Daniel J. Levin sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $18.60, for a total transaction of $372,000.00. Following the sale, the president now directly owns 3,752 shares of the company’s stock, valued at approximately $69,787.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,748,934 shares of company stock valued at $32,700,266. 22.30% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in Box by 81.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after buying an additional 3,092 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Box during the first quarter valued at about $142,000. Hillsdale Investment Management Inc. acquired a new stake in Box during the second quarter valued at about $155,000. Two Sigma Securities LLC acquired a new stake in Box during the first quarter valued at about $177,000. Finally, BNP Paribas Arbitrage SA increased its stake in Box by 843.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after buying an additional 8,749 shares in the last quarter. Institutional investors own 57.81% of the company’s stock.
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Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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