Mirova US LLC Has $209.90 Million Position in Salesforce, Inc. (NYSE:CRM)

Mirova US LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 32.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,829 shares of the CRM provider’s stock after acquiring an additional 155,163 shares during the quarter. Salesforce accounts for 2.5% of Mirova US LLC’s portfolio, making the stock its 17th largest position. Mirova US LLC owned about 0.07% of Salesforce worth $209,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 in the third quarter valued at $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the fourth quarter valued at $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $280.83 on Tuesday. The firm has a market capitalization of $269.87 billion, a price-to-earnings ratio of 46.19, a P/E/G 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 stock has a fifty day moving average of $317.05 and a 200 day moving average of $309.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CRM shares. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Royal Bank of Canada raised their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.14.

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.