Cozad Asset Management Inc. Increases Position in Salesforce, Inc. (NYSE:CRM)

Cozad Asset Management Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,417 shares of the CRM provider’s stock after buying an additional 143 shares during the period. Cozad Asset Management Inc.’s holdings in Salesforce were worth $4,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $1,173,564,000. Jennison Associates LLC raised its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB raised its holdings in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after purchasing an additional 931,566 shares in the last quarter. Finally, State Street Corp raised its holdings in 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 purchasing an additional 864,193 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 3.0 %

NYSE CRM opened at $279.76 on Monday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50-day simple moving average of $318.03 and a 200-day simple moving average of $309.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $268.85 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. The Goldman Sachs Group increased their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

About Salesforce

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.