The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Box Inc shares valued at $313,137 were sold by EVAN DANA L on Mar 28 ’24. At $28.47 per share, EVAN DANA L sold 11,000 shares. The insider’s holdings dropped to 116,535 shares worth approximately $3.22 million following the completion of this transaction.
Also, LEVIN DANIEL J sold 70,000 shares, netting a total of over 1,983,310 in proceeds. Following the sale of shares at $28.33 each, the insider now holds 0 shares.
Before that, LEVIN DANIEL J had sold 73,660 shares from its account. In a trade valued at $2,091,944, the Director traded Box Inc shares for $28.40 each. Upon closing the transaction, the insider’s holdings decreased to 73,660 shares, worth approximately $0.0.
As published in their initiating research note from UBS on December 15, 2023, Box Inc [BOX] has been a Buy and the price target has been revised to $36. Analysts at Craig Hallum downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late August. As of January 10, 2023, RBC Capital Mkts has decreased its “Sector perform” rating to a “an Underperform” for BOX. Earlier on December 12, 2022, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for BOX stock which previously was a “a Neutral”.
Analyzing BOX Stock Performance
During the last five days, there has been a drop of approximately -2.75%. Over the course of the year, Box Inc shares have jumped approximately 7.85%. Shares of the company reached a 52-week high of $30.30 on 03/12/24 and a 52-week low of $24.28 on 01/05/24. A 50-day SMA is recorded $27.37, while a 200-day SMA reached $27.02. Nevertheless, trading volume fell to 1.13 million shares from 1.38 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 27.40, which, if violated, would cause prices to drop to 27.17. In the upper region, resistance lies at 28.03. The next price resistance is at 28.43. RSI (Relative Strength Index) is 44.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 98.17%, 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 rise in short interest on Mar 15, 2024 jumping by 2.84 million shares to 10.86 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.02 million shares. A jump of 26.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.57 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.57.
