A company insider recently sold 13,000 shares of Box Inc. [BOX]. Should You Sale?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Box Inc. shares valued at $339,209 were sold by Smith Dylan C on Mar 10. At $26.09 per share, Smith Dylan C sold 13,000 shares. The insider’s holdings dropped to 1,402,904 shares worth approximately $35.82 million following the completion of this transaction.

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Also, Smith Dylan C sold 13,000 shares, netting a total of over 439,244 in proceeds. Following the sale of shares at $33.79 each, the insider now holds 1,415,904 shares.

Before that, Smith Dylan C had sold 13,000 shares from its account. In a trade valued at $365,391, the Chief Financial Officer traded Box Inc. shares for $28.11 each. Upon closing the transaction, the insider’s holdings decreased to 13,000 shares, worth approximately $32.91 million.

As published in a research note from RBC Capital Mkts on January 10, 2023, Box Inc. [BOX] has been rated down from a Sector perform to an Underperform and the price target has been revised to $24 from $28. This represents a -6.38% premium over Thursday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of November 22, 2022, Credit Suisse has initiated its “an Outperform” rating for BOX. Earlier on October 03, 2022, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for BOX stock which previously was a “an Equal-weight”.

Analyzing BOX Stock Performance

On Thursday, Box Inc. [NYSE: BOX] plunged -2.41% to $25.53. The stock’s lowest price that day was $25.49, but it reached a high of $26.355 in the same session. During the last five days, there has been a drop of approximately -1.92%. Over the course of the year, Box Inc. shares have dropped approximately -17.99%. Shares of the company reached a 52-week high of $34.98 on 02/09/23 and a 52-week low of $24.63 on 03/15/23. A 50-day SMA is recorded $31.06, while a 200-day SMA reached $28.52. Nevertheless, trading volume fell to 2.54 million shares from 2.66 million shares the previous day.

Support And Resistance Levels for Box Inc. (BOX)

According to the 24-hour chart, there is a support level at 25.23, which, if violated, would cause prices to drop to 24.93. In the upper region, resistance lies at 26.09. The next price resistance is at 26.66. RSI (Relative Strength Index) is 24.13 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.54, which suggests the price will decrease in the coming days. Percent R is at 90.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Box Inc. subject to short interest?

Stocks of Box Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.27 million shares to 7.14 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 7.41 million shares. A decline of -3.78% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.51 of the overall float, the days-to-cover ratio (short ratio) decline to 4.51.

Which companies own the most shares of Box Inc. (BOX)?

According to The Vanguard Group, Inc. filings, the company currently owns 14,569,113 shares, which is about 10.19% of the total BOX shares outstanding. The investor’s shares have appreciated by 20,012 from its previous 13-F filing of 14549101.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $336,014,457. EARNEST Partners LLC reduced a -1.02% interest valued at $219.02 million while RGM Capital LLC purchased a 169,761 stake. A total of 89,626 shares of Box Inc. were bought by Macquarie Investment Management B during the quarter, and 31,243 were bought by SSgA Funds Management, Inc. In its current portfolio, Geode Capital Management LLC holds 2,524,374 shares valued at $84.19 million.

In terms of Box Inc. share price expectations, FactSet research, analysts set an average price target of $33.60 in the next 12 months, up nearly 31.88% from the previous closing price of $26.16. Analysts anticipate Box Inc. stock to reach $39.00 by 2023, with the lowest price target being $21.00. In spite of this, 13 analysts ranked Box Inc. stock as an Overweight at the end of 2023. On September 13, 2022, KeyBanc Capital Markets assigned a price target of “an Overweight” to the stock and initiated coverage with a $34.


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