Clare Market Investments LLC Purchases Shares of 5,652 Salesforce, Inc. (NYSE:CRM)

Clare Market Investments LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,652 shares of the CRM provider’s stock, valued at approximately $1,890,000.

Several other large investors also recently added to or reduced their stakes in the company. United Bank lifted its holdings in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Salesforce by 11.2% in the third quarter. Verdence Capital Advisors LLC now owns 2,174 shares of the CRM provider’s stock valued at $595,000 after purchasing an additional 219 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Salesforce by 12.5% in the third quarter. Assetmark Inc. now owns 131,337 shares of the CRM provider’s stock valued at $35,948,000 after purchasing an additional 14,551 shares in the last quarter. Essex Savings Bank increased its stake in shares of Salesforce by 5.2% in the third quarter. Essex Savings Bank now owns 4,551 shares of the CRM provider’s stock worth $1,246,000 after acquiring an additional 225 shares during the last quarter. Finally, GSG Advisors LLC increased its stake in shares of Salesforce by 8.7% in the third quarter. GSG Advisors LLC now owns 1,200 shares of the CRM provider’s stock worth $325,000 after acquiring an additional 96 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robin L. Washington bought 1,695 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % 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 quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $282.74 on Monday. The company has a fifty day moving average price of $323.68 and a 200-day moving average price of $308.84. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a PEG 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 debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Scotiabank dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

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.