Keystone Investors PTE Ltd. Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Keystone Investors PTE Ltd. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 131,358 shares of the CRM provider’s stock, valued at approximately $43,917,000. Salesforce comprises 3.1% of Keystone Investors PTE Ltd.’s holdings, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the 4th quarter valued at about $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRM. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company reduced their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Macquarie reiterated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Finally, Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity at Salesforce

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 shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,541 shares of company stock worth $11,599,604 in the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $286.26 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $275.10 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 2.58 and a beta of 1.35. The stock’s fifty day simple moving average is $312.85 and its 200 day simple moving average is $310.64. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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.