Guardian Partners Inc. Purchases Shares of 705 Salesforce, Inc. (NYSE:CRM)

Guardian Partners Inc. purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The firm purchased 705 shares of the CRM provider’s stock, valued at approximately $230,000.

Several other institutional investors have also added to or reduced their stakes in the company. Fortis Capital Management LLC boosted its holdings in shares of Salesforce by 29.3% in the 4th quarter. Fortis Capital Management LLC now owns 13,948 shares of the CRM provider’s stock worth $4,663,000 after purchasing an additional 3,164 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Salesforce in the 4th quarter worth approximately $121,868,000. AXQ Capital LP boosted its holdings in shares of Salesforce by 135.1% in the 4th quarter. AXQ Capital LP now owns 2,111 shares of the CRM provider’s stock worth $706,000 after purchasing an additional 1,213 shares during the period. Marietta Investment Partners LLC boosted its holdings in shares of Salesforce by 6.3% in the 4th quarter. Marietta Investment Partners LLC now owns 4,355 shares of the CRM provider’s stock worth $1,456,000 after purchasing an additional 257 shares during the period. Finally, Intellus Advisors LLC purchased a new position in shares of Salesforce in the 4th quarter worth approximately $284,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,762 shares of company stock valued at $13,733,407 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.9 %

Shares of NYSE:CRM opened at $281.56 on Monday. The business’s 50-day moving average is $313.51 and its 200 day moving average is $310.36. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.31, 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.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Northland Securities reissued an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.