Saiph Capital LLC Acquires 217 Shares of Salesforce, Inc. (NYSE:CRM)

Saiph Capital LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,068 shares of the CRM provider’s stock after purchasing an additional 217 shares during the quarter. Salesforce accounts for about 0.2% of Saiph Capital LLC’s portfolio, making the stock its 29th largest position. Saiph Capital LLC’s holdings in Salesforce were worth $691,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Brooklyn FI LLC bought a new position in Salesforce during the fourth quarter valued at $2,921,000. Generali Asset Management SPA SGR bought a new stake in shares of Salesforce in the 4th quarter worth about $30,382,000. Mirova US LLC lifted its holdings in shares of Salesforce by 32.8% in the 4th quarter. Mirova US LLC now owns 627,829 shares of the CRM provider’s stock worth $209,902,000 after acquiring an additional 155,163 shares during the last quarter. Evoke Wealth LLC lifted its holdings in shares of Salesforce by 12.7% in the 4th quarter. Evoke Wealth LLC now owns 5,469 shares of the CRM provider’s stock worth $1,831,000 after acquiring an additional 617 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of Salesforce by 27.7% in the 4th quarter. Horizon Investments LLC now owns 28,826 shares of the CRM provider’s stock worth $9,637,000 after acquiring an additional 6,248 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday. Citigroup restated a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, DA Davidson lowered their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $364.14.

Salesforce Stock Down 0.6 %

NYSE:CRM opened at $278.98 on Wednesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. 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 company’s 50-day simple moving average is $316.13 and its 200-day simple moving average is $309.71.

Insider Activity

In other Salesforce news, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,609 shares of company stock worth $24,920,821. Corporate insiders own 3.20% of the company’s stock.

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.