Horizon Investments LLC Has $9.64 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in Salesforce in the fourth quarter worth approximately $31,000. Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robin L. Washington acquired 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the transaction, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Loop Capital dropped their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company 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 issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $364.14.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $280.83 on Tuesday. The business has a fifty day moving average of $317.05 and a 200-day moving average of $309.53. The firm has a market cap of $269.87 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

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.