Salesforce, Inc. (NYSE:CRM) Stock Position Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,426 shares of the CRM provider's stock after purchasing an additional 14,359 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Salesforce were worth $84,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 153,500 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock valued at $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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Bank of America reduced their target price 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. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wedbush reiterated an "outperform" rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $365.62.

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Salesforce Price Performance

Shares of CRM opened at $282.74 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a 50-day simple moving average of $323.68 and a two-hundred day simple moving average of $308.50. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the 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 transaction, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last quarter. Corporate insiders own 3.20% of the company's stock.

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.

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