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

Keystone Investors PTE Ltd. purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 131,358 shares of the CRM provider's stock, valued at approximately $43,917,000. Salesforce comprises about 3.1% of Keystone Investors PTE Ltd.'s holdings, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. United Bank boosted its holdings in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider's stock worth $1,999,000 after buying an additional 76 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Salesforce by 1.2% during the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider's stock worth $2,415,000 after purchasing an additional 105 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Salesforce by 38.6% during the third quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider's stock worth $1,168,000 after buying an additional 1,188 shares in the last quarter. Cahill Financial Advisors Inc. lifted its stake in shares of Salesforce by 26.4% in the third quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider's stock worth $278,000 after buying an additional 212 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider's stock worth $3,360,215,000 after acquiring an additional 314,530 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. JMP Securities reissued a "market outperform" rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued 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 issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $362.74.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,875 shares of company stock valued at $13,580,649. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

CRM stock traded down $2.54 during midday trading on Thursday, hitting $278.45. The stock had a trading volume of 1,927,712 shares, compared to its average volume of 6,871,920. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $311.35 and a 200 day simple moving average of $310.74. The firm has a market capitalization of $267.59 billion, a price-to-earnings ratio of 45.80, a P/E/G ratio of 2.58 and a beta of 1.35. 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.