Argentarii LLC Takes $419,000 Position in Salesforce, Inc. (NYSE:CRM)

Argentarii LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,254 shares of the CRM provider's stock, valued at approximately $419,000.

A number of other large investors also recently bought and sold shares of CRM. Raymond James Financial Inc. purchased a new position in Salesforce during the 4th quarter valued at about $1,173,564,000. Jennison Associates LLC lifted its position in Salesforce by 52.7% during the 4th 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. Swedbank AB lifted its position in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. KBC Group NV lifted its position in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider's stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider's stock valued at $311,998,000 after acquiring an additional 931,566 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE CRM traded down $3.32 during mid-day trading on Friday, hitting $282.74. 8,245,079 shares of the company's stock traded hands, compared to its average volume of 6,985,041. The company's 50-day moving average is $323.68 and its two-hundred day moving average is $308.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a PEG 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.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Piper Sandler decreased their price objective on shares of Salesforce from $405.00 to $400.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Bank of America decreased their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Scotiabank decreased their target price on shares of Salesforce from $440.00 to $400.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $365.62.

Insider Buying and Selling

In related news, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now directly owns 120,333 shares of the company's stock, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the 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 in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. 3.20% of the stock is owned by company insiders.

About Salesforce

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.