Salesforce, Inc. (NYSE:CRM) Shares Purchased by HM Payson & Co.

HM Payson & Co. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,638 shares of the CRM provider’s stock after acquiring an additional 526 shares during the period. HM Payson & Co.’s holdings in Salesforce were worth $1,551,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CRM. M&G PLC lifted its stake in Salesforce by 97.3% during the 3rd quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock worth $3,911,000 after acquiring an additional 7,038 shares in the last quarter. Consolidated Planning Corp acquired a new position in Salesforce during the 3rd quarter worth about $206,000. ABLE Financial Group LLC acquired a new position in Salesforce during the 3rd quarter worth about $213,000. Source Financial Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at about $222,000. Finally, CWA Asset Management Group LLC acquired a new stake in Salesforce in the 3rd quarter valued at about $3,769,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.2 %

Shares of CRM stock opened at $282.74 on Friday. The business’s 50 day moving average is $323.68 and its two-hundred day moving average is $308.50. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRM shares. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Buying and Selling at Salesforce

In related news, Director Robin L. Washington bought 1,695 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by insiders.

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.