Next Capital Management LLC Has $495,000 Position in Salesforce, Inc. (NYSE:CRM)

Next Capital Management LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 42.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,480 shares of the CRM provider’s stock after purchasing an additional 443 shares during the period. Next Capital Management LLC’s holdings in Salesforce were worth $495,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. United Bank increased its holdings in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after buying an additional 76 shares in the last quarter. GLOBALT Investments LLC GA lifted its stake in Salesforce by 3.8% in the third quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock valued at $361,000 after buying an additional 48 shares during the period. LMR Partners LLP acquired a new position in Salesforce during the third quarter valued at approximately $1,051,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Salesforce during the third quarter worth about $213,000. Finally, Joseph Group Capital Management lifted its stake in Salesforce by 35.0% in the third quarter. Joseph Group Capital Management now owns 9,696 shares of the CRM provider’s stock valued at $2,654,000 after buying an additional 2,515 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRM. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Stifel Nicolaus cut their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Guggenheim reissued a “sell” rating and set a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $364.14.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,609 shares of company stock valued at $24,920,821 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $278.98 on Wednesday. The firm has a market cap of $268.10 billion, a PE ratio of 45.88, a P/E/G 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. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a 50 day simple moving average of $316.13 and a 200-day simple moving average of $309.71.

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.