Salesforce, Inc. (NYSE:CRM) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 7.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,077 shares of the CRM provider’s stock after purchasing an additional 1,274 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Salesforce were worth $6,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its holdings in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the 3rd quarter worth about $1,215,000. Athena Investment Management purchased a new stake in shares of Salesforce during the 4th quarter worth about $236,000. Aljian Capital Management LLC grew its holdings in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $4,321,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 3.0 %

CRM opened at $279.76 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a 50-day moving average of $318.03 and a 200-day moving average of $308.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $268.85 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % 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 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CRM. JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Guggenheim restated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Finally, Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.