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

Key Points

• Federated Hermes Inc. reduced its stake in Box, Inc. by 95.7%, selling 129,346 shares and leaving it with just 5,830 shares valued at approximately $180,000.
• Several institutional investors increased their positions in Box, with TCTC Holdings LLC raising their holdings by 115.4% and Versant Capital Management Inc. increasing theirs by 519.4% in the first quarter.
• Box, Inc. reported earnings per share of $0.30 for its latest quarter, exceeding analyst expectations, and has a consensus rating of "Moderate Buy" from analysts, with an average price target of $38.50.

Federated Hermes Inc. reduced its position in Box, Inc. (NYSE:BOX - Free Report) by 95.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,830 shares of the software maker's stock after selling 129,346 shares during the quarter. Federated Hermes Inc.'s holdings in BOX were worth $180,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BOX. Beverly Hills Private Wealth LLC raised its holdings in shares of BOX by 3.2% in the first quarter. Beverly Hills Private Wealth LLC now owns 11,550 shares of the software maker's stock valued at $356,000 after purchasing an additional 362 shares during the last quarter. TCTC Holdings LLC increased its stake in shares of BOX by 115.4% in the first quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock worth $25,000 after purchasing an additional 442 shares in the last quarter. Xponance Inc. increased its stake in shares of BOX by 3.5% in the first quarter. Xponance Inc. now owns 15,029 shares of the software maker's stock worth $464,000 after purchasing an additional 513 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in BOX by 2.4% during the first quarter. Linden Thomas Advisory Services LLC now owns 24,754 shares of the software maker's stock valued at $764,000 after acquiring an additional 572 shares in the last quarter. Finally, Portside Wealth Group LLC grew its stake in BOX by 6.1% during the first quarter. Portside Wealth Group LLC now owns 10,019 shares of the software maker's stock valued at $309,000 after acquiring an additional 578 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $33.35, for a total transaction of $500,250.00. Following the sale, the chief executive officer owned 2,952,030 shares in the company, valued at $98,450,200.50. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dana L. Evan sold 7,590 shares of BOX stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total transaction of $254,340.90. Following the sale, the director owned 115,725 shares in the company, valued at approximately $3,877,944.75. The trade was a 6.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,504 shares of company stock worth $3,363,371 in the last ninety days. Corporate insiders own 3.90% of the company's stock.

BOX Stock Down 1.8%

BOX traded down $0.57 during midday trading on Thursday, hitting $31.11. 743,235 shares of the company traded hands, compared to its average volume of 1,895,559. The company's 50-day moving average is $33.57 and its 200 day moving average is $32.66. Box, Inc. has a 52 week low of $27.86 and a 52 week high of $38.80. The firm has a market capitalization of $4.47 billion, a PE ratio of 24.09 and a beta of 0.96.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The firm had revenue of $276.27 million for the quarter, compared to analysts' expectations of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. On average, sell-side analysts predict that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BOX. Royal Bank Of Canada lifted their target price on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research report on Wednesday, May 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 target price (up from $38.00) on shares of BOX in a research note on Wednesday, May 28th. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and boosted their price objective for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. Wall Street Zen downgraded shares of BOX from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, DA Davidson set a $45.00 price objective on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, BOX currently has an average rating of "Moderate Buy" and an average target price of $38.50.

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.