Haverford Trust Co Purchases 2,896 Shares of Salesforce, Inc. (NYSE:CRM)

Haverford Trust Co boosted its position in Salesforce, Inc. (NYSE:CRM) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 70,840 shares of the CRM provider’s stock after acquiring an additional 2,896 shares during the period. Haverford Trust Co’s holdings in Salesforce were worth $23,684,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. United Bank raised its holdings in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares in the last quarter. Nwam LLC bought a new position in Salesforce in the 3rd quarter worth $1,152,000. Penserra Capital Management LLC lifted its position in shares of Salesforce by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider’s stock worth $2,415,000 after purchasing an additional 105 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Salesforce by 3.2% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 30,500 shares of the CRM provider’s stock valued at $8,348,000 after purchasing an additional 945 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its position in shares of Salesforce by 35.9% during the third quarter. Sompo Asset Management Co. Ltd. now owns 36,432 shares of the CRM provider’s stock valued at $9,972,000 after buying an additional 9,622 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $281.56 on Monday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 50-day moving average price of $313.51 and a 200-day moving average price of $310.36. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 708 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. This represents a 36.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,762 shares of company stock worth $13,733,407 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRM shares. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.