Zevenbergen Capital Investments LLC Buys 8,100 Shares of Salesforce, Inc. (NYSE:CRM)

Zevenbergen Capital Investments LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 54.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,100 shares of the CRM provider’s stock after purchasing an additional 8,100 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Salesforce were worth $7,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC boosted its holdings in shares of Salesforce by 85.1% in 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 in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce during the fourth quarter worth about $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,762 shares of company stock worth $13,733,407 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRM. DA Davidson decreased their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Scotiabank decreased their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Finally, Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Price Performance

NYSE CRM opened at $281.56 on Monday. The stock has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company’s 50 day moving average is $313.51 and its two-hundred day moving average is $310.36. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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.