Salesforce, Inc. (NYSE:CRM) Shares Acquired by HM Payson & Co.

HM Payson & Co. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,638 shares of the CRM provider’s stock after acquiring an additional 526 shares during the quarter. HM Payson & Co.’s holdings in Salesforce were worth $1,551,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC boosted its holdings 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 acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the fourth quarter worth about $31,000. Collier Financial purchased a new position in shares of Salesforce in the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter worth about $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. DA Davidson reduced their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Oppenheimer reduced their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Stock Down 1.2 %

Shares of NYSE:CRM opened at $282.74 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $323.68 and a two-hundred day moving average of $308.50. The stock has a market cap of $270.58 billion, a P/E ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Insider Buying and Selling at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce 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.