OFI Invest Asset Management Buys New Shares in Salesforce, Inc. (NYSE:CRM)

OFI Invest Asset Management acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 169,835 shares of the CRM provider's stock, valued at approximately $54,834,000. Salesforce accounts for approximately 1.3% of OFI Invest Asset Management's holdings, making the stock its 17th biggest holding.

Several other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial acquired a new position in Salesforce in the 4th quarter valued at $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business's 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 sale, the chief accounting officer now owns 7,057 shares in the company, 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 valued at $383,156,227 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

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Salesforce Trading Down 1.2 %

CRM traded down $3.32 on Friday, reaching $282.74. 8,245,079 shares of the company's stock were exchanged, compared to its average volume of 6,985,041. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company's 50 day moving average is $323.68 and its 200-day moving average is $308.84. The company 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.

Analyst Ratings Changes

Several brokerages have issued reports on CRM. DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Scotiabank lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 27th. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Wedbush reaffirmed an "outperform" rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $365.62.

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.