Salesforce, Inc. (NYSE:CRM) Holdings Raised by Napatree Capital LLC

Napatree Capital LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 32.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,520 shares of the CRM provider’s stock after acquiring an additional 369 shares during the period. Napatree Capital LLC’s holdings in Salesforce were worth $508,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth about $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the 4th quarter worth about $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM opened at $281.56 on Friday. The stock’s 50 day simple moving average is $313.51 and its 200-day simple moving average is $309.92. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRM shares. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday. Stephens started coverage on Salesforce in a research report on Wednesday. They issued an “equal weight” rating and a $311.00 target price on the stock. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Jefferies Financial Group upped their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Activity at Salesforce

In related news, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 in the last 90 days. 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.