Horizon Investments LLC Buys 6,248 Shares of Salesforce, Inc. (NYSE:CRM)

Horizon Investments LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 27.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,826 shares of the CRM provider’s stock after buying an additional 6,248 shares during the period. Horizon Investments LLC’s holdings in Salesforce were worth $9,637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in Salesforce by 13.3% during the 4th quarter. Advisors Asset Management Inc. now owns 25,016 shares of the CRM provider’s stock worth $8,364,000 after acquiring an additional 2,933 shares during the last quarter. Taylor Financial Group Inc. acquired a new stake in Salesforce in the fourth quarter worth $229,000. PDS Planning Inc boosted its position in shares of Salesforce by 4.8% during the fourth quarter. PDS Planning Inc now owns 4,711 shares of the CRM provider’s stock worth $1,575,000 after purchasing an additional 215 shares in the last quarter. Leelyn Smith LLC grew its holdings in shares of Salesforce by 2.5% in the 4th quarter. Leelyn Smith LLC now owns 7,095 shares of the CRM provider’s stock valued at $2,372,000 after buying an additional 172 shares during the period. Finally, RD Lewis Holdings Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at $551,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE:CRM opened at $280.83 on Tuesday. The firm’s fifty day moving average price is $317.05 and its two-hundred day moving average price is $309.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $269.87 billion, a P/E ratio of 46.19, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Insider Activity at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, 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 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. BMO Capital Markets reduced their target price on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada boosted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price 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 restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $364.14.

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.