Virtu Financial LLC Acquires Shares of 20,718 Salesforce, Inc. (NYSE:CRM)

Virtu Financial LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,718 shares of the CRM provider's stock, valued at approximately $6,927,000.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRM shares. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Truist Financial reissued a "buy" rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $362.74.

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Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders sold 36,541 shares of company stock valued at $11,599,604. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Salesforce stock traded up $2.63 during mid-day trading on Tuesday, reaching $288.59. The company had a trading volume of 4,300,746 shares, compared to its average volume of 6,386,093. 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 firm has a market cap of $277.33 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. The company has a 50 day moving average of $312.85 and a 200-day moving average of $310.64. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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.