Financial Counselors Inc. Increases Stake in Salesforce, Inc. (NYSE:CRM)

Financial Counselors Inc. grew its position in Salesforce, Inc. (NYSE:CRM) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,762 shares of the CRM provider’s stock after acquiring an additional 2,439 shares during the period. Financial Counselors Inc.’s holdings in Salesforce were worth $57,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. raised its position in Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after acquiring an additional 153,500 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRM shares. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Morgan Stanley upped their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Oppenheimer lowered their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One investment 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $362.74.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,660 shares of company stock valued at $14,194,689. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.9 %

NYSE:CRM opened at $288.59 on Wednesday. The company has a market cap of $277.33 billion, a PE ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The business’s 50 day moving average is $312.15 and its two-hundred day moving average is $310.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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.