Salesforce, Inc. (NYSE:CRM) Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 487,013 shares of the CRM provider’s stock after buying an additional 2,655 shares during the quarter. Corient Private Wealth LLC owned 0.05% of Salesforce worth $162,237,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Bank of America lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 942 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the chief financial officer now directly owns 53,861 shares in the company, 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. In the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

NYSE:CRM opened at $279.76 on Friday. The firm’s 50-day moving average is $318.03 and its 200-day moving average is $309.01. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG 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.