Magnetar Financial LLC Invests $636,000 in Salesforce, Inc. (NYSE:CRM)

Magnetar Financial LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,903 shares of the CRM provider’s stock, valued at approximately $636,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth about $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the 4th quarter worth about $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $281.56 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s 50 day moving average price is $313.51 and its 200-day moving average price is $309.49.

Insider Buying and Selling

In related news, 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 sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRM. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Morgan Stanley raised their price target on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $362.74.

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.