Salesforce, Inc. (NYSE:CRM) Shares Acquired by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,772 shares of the CRM provider’s stock after purchasing an additional 50 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Salesforce were worth $1,261,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its position in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now owns 2,898,509 shares in the company, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 0.3 %

Salesforce stock opened at $279.44 on Thursday. The firm has a market capitalization of $268.54 billion, a P/E ratio of 45.96, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a 50-day simple moving average of $315.19 and a 200-day simple moving average of $309.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRM. UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating on shares of Salesforce in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Royal Bank of Canada upped their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

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.