Northwest & Ethical Investments L.P. Acquires 37,854 Shares of Salesforce, Inc. (NYSE:CRM)

Northwest & Ethical Investments L.P. boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 2,213.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,564 shares of the CRM provider's stock after buying an additional 37,854 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Salesforce were worth $13,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nvest Financial LLC boosted its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its holdings in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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Salesforce Trading Up 0.9 %

Salesforce stock traded up $2.53 during midday trading on Friday, hitting $281.56. 9,798,917 shares of the stock were exchanged, compared to its average volume of 6,385,139. The company has a fifty day simple moving average of $313.51 and a two-hundred day simple moving average of $310.36. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now owns 120,333 shares of the company's stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 in the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CRM shares. Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target for the company in a report on Friday, December 13th. Wells Fargo & Company reduced their price target on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group reduced their price objective 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. Finally, Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $362.74.

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.