Marietta Investment Partners LLC Purchases 257 Shares of Salesforce, Inc. (NYSE:CRM)

Marietta Investment Partners LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,355 shares of the CRM provider’s stock after acquiring an additional 257 shares during the quarter. Marietta Investment Partners LLC’s holdings in Salesforce were worth $1,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC increased 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 acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at $31,000. Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at $27,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Truist Financial restated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Up 0.9 %

Shares of CRM opened at $281.56 on Friday. The business’s 50 day moving average is $313.51 and its 200 day moving average is $309.49. The company has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth 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 has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 in the last quarter. 3.20% of the stock is currently owned by insiders.

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.