Lbp Am Sa Increases Stake in Salesforce, Inc. (NYSE:CRM)

Lbp Am Sa increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 43.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,287 shares of the CRM provider's stock after buying an additional 69,498 shares during the period. Salesforce comprises 1.0% of Lbp Am Sa's investment portfolio, making the stock its 19th largest holding. Lbp Am Sa's holdings in Salesforce were worth $76,992,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRM. Impact Capital Partners LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $694,000. Commonwealth Equity Services LLC increased its position in shares of Salesforce by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 320,815 shares of the CRM provider's stock valued at $107,258,000 after purchasing an additional 2,917 shares during the last quarter. CFO4Life Group LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $258,000. PGGM Investments increased its position in shares of Salesforce by 3.4% in the 4th quarter. PGGM Investments now owns 43,111 shares of the CRM provider's stock valued at $14,413,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Balboa Wealth Partners increased its position in shares of Salesforce by 31.0% in the 4th quarter. Balboa Wealth Partners now owns 1,733 shares of the CRM provider's stock valued at $579,000 after purchasing an additional 410 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm'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 transaction, the chief accounting officer now owns 7,057 shares of the company's stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Wells Fargo & Company dropped their price objective on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Finally, Erste Group Bank upgraded shares of Salesforce from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Two equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $365.62.

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Salesforce Stock Performance

Shares of CRM opened at $270.94 on Friday. The company has a 50-day simple moving average of $319.09 and a 200-day simple moving average of $308.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $260.37 billion, a PE ratio of 44.56, 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.

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