Moors & Cabot Inc. Has $13.50 Million Position in Salesforce, Inc. (NYSE:CRM)

Moors & Cabot Inc. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,381 shares of the CRM provider’s stock after purchasing an additional 268 shares during the quarter. Moors & Cabot Inc.’s holdings in Salesforce were worth $13,500,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of 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 buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial acquired a new position in Salesforce during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRM. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $277.40 on Wednesday. The company has a market cap of $266.58 billion, a PE ratio of 45.63, 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 50 day moving average price is $321.27 and its 200-day moving average price is $309.03.

About Salesforce

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.