Federated Hermes Inc. Raises Holdings in Box, Inc. (NYSE:BOX)

Federated Hermes Inc. lifted its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,176 shares of the software maker's stock after acquiring an additional 45,002 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of BOX worth $4,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its position in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after buying an additional 1,725,197 shares during the period. Norges Bank bought a new stake in BOX during the fourth quarter worth about $29,973,000. Jupiter Asset Management Ltd. purchased a new stake in BOX in the fourth quarter worth about $24,234,000. Fisher Asset Management LLC increased its stake in shares of BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after purchasing an additional 692,784 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after purchasing an additional 304,755 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

Insider Transactions at BOX

In other news, VP Eli Berkovitch sold 2,750 shares of the stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total value of $81,345.00. Following the completion of the sale, the vice president now directly owns 121,922 shares of the company's stock, valued at $3,606,452.76. This represents a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total transaction of $193,980.89. Following the transaction, the chief operating officer now owns 447,067 shares in the company, valued at approximately $14,265,907.97. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,996 shares of company stock worth $2,329,886 in the last 90 days. 4.10% of the stock is currently owned by insiders.

BOX Price Performance

Shares of BOX traded down $0.13 on Friday, reaching $29.65. The company's stock had a trading volume of 928,340 shares, compared to its average volume of 1,816,226. The stock's 50 day simple moving average is $31.74 and its two-hundred day simple moving average is $32.34. The stock has a market capitalization of $4.26 billion, a P/E ratio of 37.06, a PEG ratio of 4.42 and a beta of 0.96. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on BOX. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. DA Davidson dropped their price target on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Raymond James restated an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.44.

BOX 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.