1,300 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by West Tower Group LLC

West Tower Group LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,300 shares of the CRM provider’s stock, valued at approximately $435,000.

A number of other large investors have also modified their holdings of CRM. United Bank increased its holdings in shares of Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares during the period. GLOBALT Investments LLC GA increased its stake in Salesforce by 3.8% during the 3rd quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock valued at $361,000 after buying an additional 48 shares during the period. LMR Partners LLP acquired a new position in Salesforce during the 3rd quarter valued at about $1,051,000. Cassaday & Co Wealth Management LLC acquired a new position in Salesforce during the 3rd quarter valued at about $213,000. Finally, Joseph Group Capital Management increased its stake in Salesforce by 35.0% during the 3rd quarter. Joseph Group Capital Management now owns 9,696 shares of the CRM provider’s stock valued at $2,654,000 after buying an additional 2,515 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 0.6 %

CRM opened at $278.98 on Wednesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 fifty day moving average price is $316.13 and its two-hundred day moving average price is $309.71. The company has a market capitalization of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,609 shares of company stock worth $24,920,821 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRM shares. Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. UBS Group raised their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird reduced their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Two research 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.14.

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.