5,825 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Atala Financial Inc

Atala Financial Inc bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,825 shares of the CRM provider’s stock, valued at approximately $1,947,000. Salesforce comprises about 1.4% of Atala Financial Inc’s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors have also made changes to their positions in CRM. Nvest Financial LLC increased its stake in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD increased its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC increased its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its position in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $270.94 on Friday. 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 company has a market capitalization of $260.37 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. The stock has a 50 day moving average of $319.09 and a 200 day moving average of $308.60. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Insiders Place Their Bets

In other news, Director Robin L. Washington bought 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74 % 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 valued at $383,156,227 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CRM. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Scotiabank cut their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler cut their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $365.62.

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.