Farther Finance Advisors LLC Buys 2,324 Shares of Salesforce, Inc. (NYSE:CRM)

Farther Finance Advisors LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,275 shares of the CRM provider’s stock after purchasing an additional 2,324 shares during the quarter. Farther Finance Advisors LLC’s holdings in Salesforce were worth $6,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Bank grew its holdings in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after buying an additional 76 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its stake in shares of Salesforce by 7.5% in the third quarter. Jaffetilchin Investment Partners LLC now owns 4,128 shares of the CRM provider’s stock valued at $1,130,000 after acquiring an additional 289 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Salesforce by 0.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 6,704 shares of the CRM provider’s stock valued at $1,835,000 after acquiring an additional 58 shares in the last quarter. Everhart Financial Group Inc. increased its position in Salesforce by 16.4% during the third quarter. Everhart Financial Group Inc. now owns 5,086 shares of the CRM provider’s stock worth $1,392,000 after acquiring an additional 715 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in Salesforce by 5.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 25,801 shares of the CRM provider’s stock worth $7,062,000 after purchasing an additional 1,434 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reduced their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research note 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 assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Price Performance

Shares of CRM opened at $277.40 on Wednesday. The firm has a market cap of $266.58 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business’s 50 day moving average price is $321.27 and its two-hundred day moving average price is $309.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction 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 sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 in the last quarter. 3.20% of the stock is owned by corporate 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.