Salesforce, Inc. (NYSE:CRM) Shares Acquired by Personal CFO Solutions LLC

Personal CFO Solutions LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,586 shares of the CRM provider’s stock after purchasing an additional 292 shares during the quarter. Personal CFO Solutions LLC’s holdings in Salesforce were worth $1,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Atlantic Union Bankshares Corp increased its stake in shares of Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider’s stock worth $9,146,000 after acquiring an additional 723 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $293,000. Hamilton Capital Partners LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $7,528,000. Lifeworks Advisors LLC increased its stake in shares of Salesforce by 26.8% in the fourth quarter. Lifeworks Advisors LLC now owns 1,055 shares of the CRM provider’s stock worth $353,000 after acquiring an additional 223 shares during the period. Finally, HM Payson & Co. increased its stake in shares of Salesforce by 12.8% in the fourth quarter. HM Payson & Co. now owns 4,638 shares of the CRM provider’s stock worth $1,551,000 after acquiring an additional 526 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robin L. Washington purchased 1,695 shares of Salesforce stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRM shares. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Morgan Stanley increased their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Northland Securities reissued an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Price Performance

Shares of CRM stock opened at $282.74 on Friday. 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’s 50-day moving average is $323.68 and its two-hundred day moving average is $308.50. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.