Midwest Professional Planners LTD. Has $5.25 Million Stake in Salesforce, Inc. (NYSE:CRM)

Midwest Professional Planners LTD. raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,702 shares of the CRM provider’s stock after buying an additional 491 shares during the period. Salesforce comprises 1.6% of Midwest Professional Planners LTD.’s portfolio, making the stock its 12th biggest position. Midwest Professional Planners LTD.’s holdings in Salesforce were worth $5,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CRM. Raymond James Financial Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its stake in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB grew its stake in shares of Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. KBC Group NV grew its stake in shares of Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake 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. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’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 completion of the transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on CRM shares. Scotiabank decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 27th. TD Cowen raised shares of 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 note on Friday, January 17th. UBS Group increased their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Trading Down 4.8 %

Shares of NYSE:CRM opened at $270.94 on Friday. The company’s 50-day moving average price is $319.09 and its two-hundred day moving average price is $308.60. 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 one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $260.37 billion, a PE ratio of 44.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.