1,300 Shares in Salesforce, Inc. (NYSE:CRM) Bought by West Tower Group LLC

West Tower Group LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,300 shares of the CRM provider’s stock, valued at approximately $435,000.

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

Salesforce Price Performance

Shares of CRM stock opened at $278.98 on Wednesday. The company has a market capitalization of $268.10 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm has a fifty day simple moving average of $316.13 and a 200-day simple moving average of $309.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the 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 transaction, the insider now owns 19,116 shares in the company, valued at $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 have sold 75,609 shares of company stock worth $24,920,821 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CRM shares. Piper Sandler dropped their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Finally, Macquarie dropped their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $364.14.

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.