Salesforce, Inc. (NYSE:CRM) Stake Lifted by PGGM Investments

PGGM Investments raised its stake in Salesforce, Inc. (NYSE:CRM) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 43,111 shares of the CRM provider’s stock after buying an additional 1,413 shares during the quarter. PGGM Investments’ holdings in Salesforce were worth $14,413,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CRM. United Bank boosted its stake in Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the period. First Heartland Consultants Inc. boosted its position in shares of Salesforce by 36.6% during the third quarter. First Heartland Consultants Inc. now owns 1,851 shares of the CRM provider’s stock worth $507,000 after buying an additional 496 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of Salesforce by 24.0% during the third quarter. Aptus Capital Advisors LLC now owns 8,917 shares of the CRM provider’s stock worth $2,441,000 after buying an additional 1,724 shares during the period. RPG Investment Advisory LLC grew its holdings in Salesforce by 3.6% in the 3rd quarter. RPG Investment Advisory LLC now owns 38,101 shares of the CRM provider’s stock worth $10,429,000 after buying an additional 1,340 shares in the last quarter. Finally, Dillon & Associates Inc. increased its position in Salesforce by 3.1% in the 3rd quarter. Dillon & Associates Inc. now owns 27,584 shares of the CRM provider’s stock valued at $7,558,000 after acquiring an additional 836 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRM shares. Scotiabank decreased 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. Jefferies Financial Group increased their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley upped their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Loop Capital lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Trading Up 2.8 %

Shares of NYSE:CRM opened at $284.88 on Thursday. The firm has a fifty day moving average of $320.28 and a two-hundred day moving average of $308.86. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $273.77 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value 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. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company’s stock.

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.