Salesforce, Inc. (NYSE:CRM) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in Salesforce, Inc. (NYSE:CRM) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,016 shares of the CRM provider’s stock after purchasing an additional 2,933 shares during the quarter. Advisors Asset Management Inc.’s holdings in Salesforce were worth $8,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth $31,000. Collier Financial bought a new position in shares of Salesforce in the fourth quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter valued at $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of Salesforce stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

CRM opened at $278.98 on Wednesday. The stock has a market cap of $268.10 billion, a PE ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock’s 50 day simple moving average is $316.13 and its 200-day simple moving average is $309.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Macquarie decreased their target price on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley raised 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. Finally, Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. Two equities research 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 company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average 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.