Generali Investments CEE investicni spolecnost a.s. Buys New Position in Salesforce, Inc. (NYSE:CRM)

Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,424 shares of the CRM provider’s stock, valued at approximately $5,157,000.

Other institutional investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC raised its stake 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 buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new position in Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $282.74 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business has a fifty day moving average price of $323.68 and a 200-day moving average price of $308.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. Guggenheim reaffirmed a “sell” rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Macquarie dropped their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler lowered 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. Finally, BMO Capital Markets lowered their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.