Salesforce, Inc. (NYSE:CRM) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,976 shares of the CRM provider's stock after acquiring an additional 11,919 shares during the quarter. Whittier Trust Co.'s holdings in Salesforce were worth $40,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CRM. Nvest Financial LLC boosted its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC increased its position in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its position in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on CRM shares. The Goldman Sachs Group increased their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and lifted their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Wedbush reissued an "outperform" rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $362.74.

Salesforce Stock Up 0.9 %

NYSE CRM traded up $2.53 during trading hours on Friday, hitting $281.56. 9,798,917 shares of the company were exchanged, compared to its average volume of 6,385,139. The company has a 50 day moving average of $313.51 and a two-hundred day moving average of $310.36. The firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG 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 company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 942 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company's stock, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company's stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,256 shares of company stock valued at $19,692,357. 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.