3,958 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Greykasell Wealth Strategies Inc.

Greykasell Wealth Strategies Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,958 shares of the CRM provider’s stock, valued at approximately $1,323,000.

Other large investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial acquired a new position in Salesforce in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CRM. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Morgan Stanley upped their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. Two equities research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Stock Performance

CRM stock opened at $279.76 on Friday. The business’s fifty day moving average is $318.03 and its 200-day moving average is $308.70. 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 company has a market cap of $268.85 billion, a P/E ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Insider Activity

In related news, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on 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 sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value 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. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last 90 days. 3.20% of the stock is owned by company insiders.

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.