Impact Capital Partners LLC Buys New Position in Salesforce, Inc. (NYSE:CRM)

Impact Capital Partners LLC bought a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,075 shares of the CRM provider's stock, valued at approximately $694,000.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC boosted its position in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC lifted its position in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after acquiring an additional 153,500 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock worth $1,632,599,000 after acquiring an additional 57,825 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CRM shares. Wells Fargo & Company decreased their price objective on Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Erste Group Bank raised Salesforce from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Wedbush reissued an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Morgan Stanley raised their price target on Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $365.62.

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Salesforce Stock Up 2.8 %

Shares of NYSE:CRM opened at $284.88 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $273.77 billion, a PE ratio of 46.85, a price-to-earnings-growth 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. The firm has a 50 day simple moving average of $320.28 and a 200 day simple moving average of $308.86.

Insiders Place Their Bets

In other Salesforce news, Director Robin L. Washington purchased 1,695 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now owns 43,445 shares of the company's stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.

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