Salesforce, Inc. (NYSE:CRM) Shares Bought by Whittier Trust Co.

Whittier Trust Co. increased its stake in Salesforce, Inc. (NYSE:CRM) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,976 shares of the CRM provider’s stock after acquiring an additional 11,919 shares during the period. Whittier Trust Co.’s holdings in Salesforce were worth $40,110,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRM. United Bank grew its position in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares during the period. LMR Partners LLP purchased a new stake in shares of Salesforce during the 3rd quarter worth about $1,051,000. Meeder Asset Management Inc. increased its position in Salesforce by 67.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 666 shares of the CRM provider’s stock worth $182,000 after purchasing an additional 268 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Salesforce by 7.6% in the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock valued at $65,161,000 after buying an additional 16,724 shares during the period. Finally, Sachetta LLC increased its position in shares of Salesforce by 5,505.1% in the third quarter. Sachetta LLC now owns 10,986 shares of the CRM provider’s stock worth $3,007,000 after acquiring an additional 10,790 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company lowered their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Stephens initiated coverage on Salesforce in a report on Wednesday. They issued an “equal weight” rating and a $311.00 price target for the company. UBS Group increased their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Up 0.3 %

CRM opened at $279.44 on Thursday. The stock’s fifty day moving average is $315.19 and its 200-day moving average is $309.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $268.54 billion, a PE ratio of 45.96, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The stock was 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 owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is owned by corporate insiders.

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.