Salesforce, Inc. (NYSE:CRM) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,177,866 shares of the CRM provider’s stock after buying an additional 21,410 shares during the period. Salesforce comprises 1.0% of William Blair Investment Management LLC’s portfolio, making the stock its 12th largest holding. William Blair Investment Management LLC owned 0.12% of Salesforce worth $393,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after buying an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, 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 value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin L. Washington bought 1,695 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Macquarie dropped their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson reduced their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Citigroup restated a “cautious” rating 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Trading Up 3.0 %

Salesforce stock opened at $279.76 on Monday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $268.85 billion, a price-to-earnings ratio of 46.01, 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. The firm has a 50-day moving average of $318.03 and a 200-day moving average of $309.36.

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.