Erste Asset Management GmbH Acquires 52,081 Shares of Salesforce, Inc. (NYSE:CRM)

Erste Asset Management GmbH raised its holdings in Salesforce, Inc. (NYSE:CRM) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 239,200 shares of the CRM provider’s stock after purchasing an additional 52,081 shares during the quarter. Salesforce makes up about 1.0% of Erste Asset Management GmbH’s investment portfolio, making the stock its 20th largest position. Erste Asset Management GmbH’s holdings in Salesforce were worth $80,808,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction on 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 purchase, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Robert W. Baird lowered their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Up 2.8 %

Shares of NYSE:CRM opened at $284.88 on Thursday. The company has a market capitalization of $273.77 billion, a P/E ratio of 46.85, a P/E/G 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 company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day simple moving average is $320.28 and its 200 day simple moving average is $308.86.

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.