Salesforce, Inc. (NYSE:CRM) Shares Bought by PGGM Investments

PGGM Investments lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,111 shares of the CRM provider’s stock after buying an additional 1,413 shares during the quarter. PGGM Investments’ holdings in Salesforce were worth $14,413,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new position in Salesforce in the third quarter valued at $1,215,000. Athena Investment Management purchased a new position in Salesforce during the fourth quarter worth about $236,000. Aljian Capital Management LLC boosted its stake in Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. Finally, Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $4,321,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 2.8 %

NYSE CRM opened at $284.88 on Thursday. The company has a market capitalization of $273.77 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company’s fifty day moving average price is $320.28 and its two-hundred day moving average price is $308.86. 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 12 month low of $212.00 and a 12 month high of $369.00.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CRM shares. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Two research 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 issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Company 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.