Salesforce, Inc. (NYSE:CRM) Stake Boosted by Liberty Wealth Management LLC

Liberty Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 102.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,821 shares of the CRM provider’s stock after purchasing an additional 923 shares during the quarter. Liberty Wealth Management LLC’s holdings in Salesforce were worth $609,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC increased its position in 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 acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce in the 4th quarter valued at approximately $32,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on CRM shares. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. 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 research report on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Two investment 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Stock Up 1.6 %

CRM stock opened at $277.40 on Wednesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $266.58 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business’s 50-day simple moving average is $321.27 and its 200 day simple moving average is $309.03. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 over the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Company 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.