Salesforce, Inc. (NYSE:CRM) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,016 shares of the CRM provider’s stock after buying an additional 2,933 shares during the quarter. Advisors Asset Management Inc.’s holdings in Salesforce were worth $8,364,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CRM. Raymond James Financial Inc. purchased a new position in Salesforce in the 4th quarter valued at about $1,173,564,000. Jennison Associates LLC lifted its stake in shares of Salesforce by 52.7% during 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 buying an additional 1,530,572 shares during the period. Swedbank AB boosted its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after acquiring an additional 931,566 shares during the period. Finally, State Street Corp grew its stake in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday. Macquarie decreased their target price on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $364.14.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director G Mason Morfit sold 15,353 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,609 shares of company stock worth $24,920,821 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $278.98 on Wednesday. The firm has a market cap 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. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm’s 50-day simple moving average is $316.13 and its 200-day simple moving average is $309.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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.