Jackson Creek Investment Advisors LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Jackson Creek Investment Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 3.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,828 shares of the CRM provider’s stock after purchasing an additional 84 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Salesforce were worth $945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Raymond James Financial Inc. bought a new position in shares of Salesforce during the fourth quarter valued at $1,173,564,000. Jennison Associates LLC lifted its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. Swedbank AB boosted its holdings in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. KBC Group NV grew its stake in shares of Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after acquiring an additional 1,032,068 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CRM shares. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Scotiabank cut their price target on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 27th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Canaccord Genuity Group dropped their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a report on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was 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 directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, 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. Insiders sold 1,108,793 shares of company stock worth $383,156,227 over the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 1.2 %

NYSE CRM opened at $282.74 on Friday. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company’s 50-day moving average price is $323.68 and its 200-day moving average price is $308.18. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.62 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

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.