Mizuho Securities USA LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Mizuho Securities USA LLC increased its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 44.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,607 shares of the CRM provider's stock after buying an additional 27,773 shares during the quarter. Salesforce accounts for 0.6% of Mizuho Securities USA LLC's portfolio, making the stock its 25th largest 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. Raymond James Financial Inc. purchased a new position in Salesforce in the 4th quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its holdings 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 worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB increased its stake in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the period. Proficio Capital Partners LLC raised its holdings in Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider's stock valued at $311,998,000 after buying an additional 931,566 shares during the last quarter. Finally, State Street Corp boosted its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

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Salesforce Stock Performance

NYSE CRM traded up $2.63 on Tuesday, hitting $288.59. 4,300,746 shares of the company traded hands, compared to its average volume of 6,386,093. The business's 50 day moving average price is $312.85 and its 200-day moving average price is $310.64. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares of the company's stock, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,541 shares of company stock valued at $11,599,604 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Northland Securities restated an "outperform" rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. KeyCorp raised Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Finally, The Goldman Sachs Group raised their price objective on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. One research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $362.74.

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.