Commonwealth Equity Services LLC Purchases 2,917 Shares of Salesforce, Inc. (NYSE:CRM)

Commonwealth Equity Services LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 320,815 shares of the CRM provider’s stock after purchasing an additional 2,917 shares during the period. Commonwealth Equity Services LLC’s holdings in Salesforce were worth $107,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC lifted its stake in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Salesforce by 2.6% during the fourth 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 period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director G Mason Morfit sold 722,300 shares of the business’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 of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $270.94 on Friday. The business’s fifty day moving average is $319.09 and its 200 day moving average is $308.60. The stock has a market cap of $260.37 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRM shares. Citigroup reissued a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. UBS Group upped their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson lowered their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

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.