Wayfinding Financial LLC Purchases New Holdings in Salesforce, Inc. (NYSE:CRM)

Wayfinding Financial LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,771 shares of the CRM provider's stock, valued at approximately $592,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $1,173,564,000. Jennison Associates LLC boosted its holdings in Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB increased its position in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider's stock worth $311,998,000 after buying an additional 931,566 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares of the company's stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,762 shares of company stock worth $13,733,407. 3.20% of the stock is currently owned by corporate insiders.

Remove Ads

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Wedbush reissued an "outperform" rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Morgan Stanley boosted their price target on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

Salesforce Trading Up 2.0 %

NYSE CRM traded up $5.64 during mid-day trading on Monday, hitting $286.26. The company's stock had a trading volume of 6,762,989 shares, compared to its average volume of 6,386,651. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock's fifty day simple moving average is $312.85 and its two-hundred day simple moving average is $310.64. The firm has a market capitalization of $275.10 billion, a P/E ratio of 47.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.