90,874 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The fund bought 90,874 shares of the CRM provider’s stock, valued at approximately $30,382,000. Salesforce makes up 0.8% of Generali Asset Management SPA SGR’s holdings, making the stock its 22nd biggest position.

Several other hedge funds also recently bought and sold shares of CRM. Raymond James Financial Inc. bought a new position in shares of Salesforce during the 4th quarter valued at about $1,173,564,000. Jennison Associates LLC boosted its holdings in shares of 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 purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its holdings in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Salesforce by 56,872.2% during 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 boosted its holdings 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 purchasing an additional 864,193 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRM shares. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Citigroup reissued a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Guggenheim reiterated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company 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 issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $364.14.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $280.83 on Tuesday. The company has a market capitalization of $269.87 billion, a price-to-earnings ratio of 46.19, a price-to-earnings-growth 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 quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $317.05 and a 200 day moving average of $309.53.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % 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 the SEC website. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was 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 in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.