Next Capital Management LLC Acquires 443 Shares of Salesforce, Inc. (NYSE:CRM)

Next Capital Management LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,480 shares of the CRM provider’s stock after buying an additional 443 shares during the quarter. Next Capital Management LLC’s holdings in Salesforce were worth $495,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. Raymond James Financial Inc. bought a new position in Salesforce in the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC grew its stake in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares in the last quarter. Swedbank AB increased its holdings in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after buying an additional 931,566 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CRM shares. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group upped their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Guggenheim reiterated a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Loop Capital dropped their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $364.14.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,609 shares of company stock valued at $24,920,821. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.6 %

NYSE CRM opened at $278.98 on Wednesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. The business has a fifty day moving average price of $316.13 and a 200 day moving average price of $309.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.