Generali Asset Management SPA SGR Invests $30.38 Million in Salesforce, Inc. (NYSE:CRM)

Generali Asset Management SPA SGR acquired a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 90,874 shares of the CRM provider’s stock, valued at approximately $30,382,000. Salesforce accounts for 0.8% of Generali Asset Management SPA SGR’s holdings, making the stock its 22nd largest position.

Several other large investors have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC increased its holdings in 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 purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRM. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Canaccord Genuity Group cut their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Macquarie cut their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $364.14.

Salesforce Trading Up 0.5 %

NYSE:CRM opened at $280.83 on Tuesday. 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 $269.87 billion, a price-to-earnings ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 $317.05 and a 200-day moving average price of $309.53.

Insider Transactions at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at $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 is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the company’s 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 completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, 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 sold 1,108,793 shares of company stock worth $383,156,227 in the last three months. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.