Salesforce, Inc. (NYSE:CRM) Shares Purchased by Pettee Investors Inc.

Pettee Investors Inc. boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,190 shares of the CRM provider’s stock after acquiring an additional 156 shares during the quarter. Pettee Investors Inc.’s holdings in Salesforce were worth $398,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter valued at $27,000. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter valued at $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce during the 4th quarter valued at $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.2 %

Salesforce stock opened at $282.74 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. The business’s 50-day simple moving average is $323.68 and its 200-day simple moving average is $308.50. The firm has a market capitalization of $270.58 billion, a PE 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CRM shares. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. DA Davidson decreased their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Citigroup restated a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Northland Securities restated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.