Mirova US LLC Buys 155,163 Shares of Salesforce, Inc. (NYSE:CRM)

Mirova US LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 627,829 shares of the CRM provider’s stock after acquiring an additional 155,163 shares during the period. Salesforce comprises about 2.5% of Mirova US LLC’s holdings, making the stock its 17th largest holding. Mirova US LLC’s holdings in Salesforce were worth $209,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nvest Financial LLC increased its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD increased its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC increased its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $280.83 on Tuesday. The business’s fifty day moving average price is $317.05 and its 200-day moving average price is $309.53. The stock has a market capitalization of $269.87 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 2.58 and a beta of 1.35. 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 1-year low of $212.00 and a 1-year high of $369.00.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CRM shares. Truist Financial restated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $364.14.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’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 sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % 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 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.