NEOS Investment Management LLC Buys 6,795 Shares of Salesforce, Inc. (NYSE:CRM)

NEOS Investment Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,585 shares of the CRM provider’s stock after purchasing an additional 6,795 shares during the period. NEOS Investment Management LLC’s holdings in Salesforce were worth $16,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter valued at $27,000. Arlington Trust Co LLC grew its holdings in 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 in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth about $31,000. Finally, Collier Financial bought a new position in shares of Salesforce in the fourth quarter valued at approximately $32,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CRM shares. DA Davidson decreased their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Down 2.7 %

NYSE 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 stock has a market capitalization of $269.97 billion, a PE ratio of 46.21, a PEG ratio of 2.58 and a beta of 1.35. 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 business’s 50-day moving average is $311.35 and its 200 day moving average is $310.74.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,875 shares of company stock worth $13,580,649. 3.20% of the stock is currently owned by company insiders.

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.