Virtu Financial LLC Invests $6.93 Million in Salesforce, Inc. (NYSE:CRM)

Virtu Financial LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,718 shares of the CRM provider’s stock, valued at approximately $6,927,000.

Other institutional investors have also modified their holdings of the company. Nvest Financial LLC increased its holdings in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD increased its holdings in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC increased its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its holdings 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 worth $1,125,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRM shares. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. DA Davidson decreased their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.9 %

Shares of CRM stock opened at $281.56 on Friday. The stock has a 50-day moving average of $313.51 and a 200-day moving average of $309.49. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robin L. Washington bought 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 60,256 shares of company stock valued at $19,692,357 over the last 90 days. Company insiders own 3.20% of the company’s stock.

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.