Mizuho Securities USA LLC Acquires 27,773 Shares of Salesforce, Inc. (NYSE:CRM)

Mizuho Securities USA LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,607 shares of the CRM provider’s stock after acquiring an additional 27,773 shares during the quarter. Salesforce accounts for approximately 0.6% of Mizuho Securities USA LLC’s investment portfolio, making the stock its 25th biggest position. Mizuho Securities USA LLC’s holdings in Salesforce were worth $30,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its holdings in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce during the 3rd quarter worth approximately $1,215,000. Athena Investment Management acquired a new position in shares of Salesforce during the fourth quarter worth approximately $236,000. Highland Capital Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth approximately $4,321,000. Finally, Geode Capital Management LLC raised its position in shares of Salesforce by 1.3% during the third 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 period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents 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 60,256 shares of company stock valued at $19,692,357. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRM. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Jefferies Financial Group raised their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Price Performance

Shares of CRM stock opened at $281.56 on Friday. The stock has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The business’s fifty day moving average is $313.51 and its 200 day moving average is $309.49. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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.