Independent Advisor Alliance Purchases 8,240 Shares of Salesforce, Inc. (NYSE:CRM)

Independent Advisor Alliance boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,343 shares of the CRM provider's stock after acquiring an additional 8,240 shares during the period. Independent Advisor Alliance's holdings in Salesforce were worth $14,491,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock worth $13,432,855,000 after buying an additional 864,193 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after buying an additional 257,501 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after buying an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock worth $1,632,599,000 after buying an additional 57,825 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and lifted their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $365.62.

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Salesforce Stock Down 1.2 %

Shares of Salesforce stock opened at $282.74 on Monday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 stock's 50-day moving average is $323.68 and its 200 day moving average is $308.84. The firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

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.

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