Salesforce, Inc. (NYSE:CRM) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2,213.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,564 shares of the CRM provider’s stock after buying an additional 37,854 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Salesforce were worth $13,227,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in Salesforce by 1.8% during the third 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 in the last quarter. Geode Capital Management LLC boosted its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of 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 purchasing an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Salesforce by 2.6% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Salesforce by 1.0% during 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 buying an additional 57,825 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.3 %

Salesforce stock opened at $279.44 on Thursday. The stock has a market capitalization of $268.54 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s fifty day moving average is $315.19 and its 200 day moving average is $309.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Scotiabank dropped their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 16,487 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,609 shares of company stock valued at $24,920,821 in the last quarter. 3.20% of the stock is currently owned by insiders.

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.