Salesforce, Inc. (NYSE:CRM) Shares Bought by Signaturefd LLC

Signaturefd LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,821 shares of the CRM provider’s stock after acquiring an additional 956 shares during the quarter. Signaturefd LLC’s holdings in Salesforce were worth $6,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth about $1,173,564,000. Jennison Associates LLC raised its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB lifted its position in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the last quarter. Finally, State Street Corp increased its holdings 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 valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 3.0 %

NYSE CRM opened at $279.76 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s 50 day moving average price is $318.03 and its 200 day moving average price is $309.36. The firm has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Canaccord Genuity Group cut their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Two 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. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $365.62.

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.