NEOS Investment Management LLC Has $16.91 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

NEOS Investment Management LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,585 shares of the CRM provider’s stock after purchasing an additional 6,795 shares during the quarter. NEOS Investment Management LLC’s holdings in Salesforce were worth $16,912,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Moment Partners LLC bought a new position in Salesforce in the 4th quarter valued at about $488,000. Sava Infond d.o.o. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $16,299,000. WINTON GROUP Ltd bought a new position in Salesforce in the fourth quarter valued at approximately $2,354,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Salesforce by 7.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,632,935 shares of the CRM provider’s stock valued at $543,604,000 after purchasing an additional 111,985 shares in the last quarter. Finally, Korea Investment CORP lifted its stake in Salesforce by 1.2% during the fourth quarter. Korea Investment CORP now owns 787,623 shares of the CRM provider’s stock worth $263,326,000 after purchasing an additional 8,992 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $280.93 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 capitalization of $269.97 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35. The firm’s fifty day moving average price is $311.35 and its two-hundred day moving average price is $310.74.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRM shares. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group upped 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. 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, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 3,273 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,875 shares of company stock valued at $13,580,649 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.