Mizuho Securities USA LLC Acquires 27,773 Shares of Salesforce, Inc. (NYSE:CRM)

Mizuho Securities USA LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 44.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,607 shares of the CRM provider’s stock after purchasing 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 biggest holding. Mizuho Securities USA LLC’s holdings in Salesforce were worth $30,293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fi3 FINANCIAL ADVISORS LLC lifted its holdings in Salesforce by 5.2% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 2,048 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 102 shares during the period. Virtu Financial LLC bought a new position in Salesforce in the fourth quarter valued at about $6,927,000. Sciencast Management LP bought a new position in Salesforce in the fourth quarter valued at about $262,000. Millstone Evans Group LLC bought a new position in Salesforce in the fourth quarter valued at about $823,000. Finally, Wayfinding Financial LLC bought a new position in Salesforce in the fourth quarter valued at about $592,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 16,487 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,256 shares of company stock valued at $19,692,357 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $281.56 on Friday. The firm has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business has a 50 day simple moving average of $313.51 and a 200-day simple moving average of $309.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.