114,380 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel.com reports. The firm acquired 114,380 shares of the CRM provider’s stock, valued at approximately $38,241,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Salesforce by 78.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 695,672 shares of the CRM provider’s stock valued at $233,565,000 after purchasing an additional 305,368 shares during the period. Erste Asset Management GmbH grew its holdings in Salesforce by 27.8% during the 4th quarter. Erste Asset Management GmbH now owns 239,200 shares of the CRM provider’s stock valued at $80,808,000 after buying an additional 52,081 shares in the last quarter. Achmea Investment Management B.V. increased its position in shares of Salesforce by 4.3% during the fourth quarter. Achmea Investment Management B.V. now owns 104,110 shares of the CRM provider’s stock valued at $34,807,000 after buying an additional 4,278 shares during the period. Telemark Asset Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth about $6,687,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Salesforce in the fourth quarter valued at approximately $43,241,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robin L. Washington acquired 1,695 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CRM shares. Piper Sandler decreased their target price on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada upped their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson dropped their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Up 2.8 %

NYSE CRM opened at $284.88 on Thursday. The stock has a market cap of $273.77 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a 50 day simple moving average of $320.28 and a two-hundred day simple moving average of $308.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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.