Salesforce, Inc. (NYSE:CRM) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 11.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,837 shares of the CRM provider’s stock after acquiring an additional 6,404 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Salesforce were worth $21,008,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CRM. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in 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 purchased a new position in Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter valued at $31,000. Collier Financial purchased a new stake in shares of Salesforce in the fourth quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the third quarter worth about $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. DA Davidson dropped their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Truist Financial reaffirmed 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. Robert W. Baird cut 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. BMO Capital Markets lowered their target price on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Two equities research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’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 sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 3.0 %

Shares of NYSE:CRM opened at $279.76 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35. The stock’s 50-day moving average price is $318.03 and its two-hundred day moving average price is $309.36. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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.