Main Street Research LLC Buys 537 Shares of Salesforce, Inc. (NYSE:CRM)

Main Street Research LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 8.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,280 shares of the CRM provider’s stock after buying an additional 537 shares during the period. Main Street Research LLC’s holdings in Salesforce were worth $2,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. Fisher Asset Management LLC lifted its position in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $282.74 on Monday. The company has a market cap of $270.58 billion, a P/E ratio of 46.50, 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 company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day moving average is $323.68 and its two-hundred day moving average is $308.84.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRM shares. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. UBS Group lifted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Loop Capital lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” 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 given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.