Blueprint Investment Partners LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Blueprint Investment Partners LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 35.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,926 shares of the CRM provider’s stock after acquiring an additional 1,026 shares during the quarter. Blueprint Investment Partners LLC’s holdings in Salesforce were worth $1,313,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Foundations Investment Advisors LLC raised its position in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce in the third quarter valued at $1,215,000. Athena Investment Management bought a new position in Salesforce during the 4th quarter valued at $236,000. Highland Capital Management LLC acquired a new position in Salesforce during the 4th quarter worth $4,321,000. Finally, Geode Capital Management LLC increased its position in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares in the company, valued at $566,210.16. The trade was a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,256 shares of company stock worth $19,692,357. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group upped their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Up 0.9 %

Shares of Salesforce stock opened at $281.56 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $313.51 and its 200-day moving average is $309.92.

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.