Salesforce, Inc. (NYSE:CRM) Shares Bought by Lbp Am Sa

Lbp Am Sa grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 43.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 230,287 shares of the CRM provider’s stock after purchasing an additional 69,498 shares during the quarter. Salesforce accounts for 1.0% of Lbp Am Sa’s holdings, making the stock its 19th largest holding. Lbp Am Sa’s holdings in Salesforce were worth $76,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Impact Capital Partners LLC acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $694,000. Commonwealth Equity Services LLC boosted its position in shares of Salesforce by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 320,815 shares of the CRM provider’s stock worth $107,258,000 after acquiring an additional 2,917 shares during the last quarter. CFO4Life Group LLC acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $258,000. PGGM Investments boosted its position in shares of Salesforce by 3.4% in the fourth quarter. PGGM Investments now owns 43,111 shares of the CRM provider’s stock worth $14,413,000 after acquiring an additional 1,413 shares during the last quarter. Finally, Balboa Wealth Partners boosted its position in shares of Salesforce by 31.0% in the fourth quarter. Balboa Wealth Partners now owns 1,733 shares of the CRM provider’s stock worth $579,000 after acquiring an additional 410 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $270.94 on Friday. The company has a market cap of $260.37 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm has a fifty day moving average of $319.09 and a 200-day moving average of $308.60. Salesforce, Inc. has a 1 year low of $212.00 and a 1 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.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Piper Sandler decreased their target price on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Guggenheim reaffirmed a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group reduced their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.