Community Bank N.A. Increases Position in Salesforce, Inc. (NYSE:CRM)

Community Bank N.A. grew its stake in Salesforce, Inc. (NYSE:CRM) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,529 shares of the CRM provider’s stock after acquiring an additional 135 shares during the quarter. Community Bank N.A.’s holdings in Salesforce were worth $1,848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in 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 acquired a new stake in shares of Salesforce in the 4th quarter worth $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter worth $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter worth $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent analyst reports. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Trading Up 0.9 %

CRM opened at $281.56 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The business’s 50 day moving average price is $313.51 and its 200 day moving average price is $309.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,256 shares of company stock worth $19,692,357. Insiders own 3.20% of the company’s stock.

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.