Viawealth LLC Acquires 405 Shares of Salesforce, Inc. (NYSE:CRM)

Viawealth LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,111 shares of the CRM provider’s stock after acquiring an additional 405 shares during the quarter. Salesforce comprises about 1.0% of Viawealth LLC’s portfolio, making the stock its 25th largest position. Viawealth LLC’s holdings in Salesforce were worth $1,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. United Bank raised its stake 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 acquiring an additional 76 shares during the period. LMR Partners LLP purchased a new stake in shares of Salesforce in the third quarter valued at $1,051,000. Meeder Asset Management Inc. raised its stake in shares of Salesforce by 67.3% in the third quarter. Meeder Asset Management Inc. now owns 666 shares of the CRM provider’s stock valued at $182,000 after acquiring an additional 268 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Salesforce by 7.6% in the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock valued at $65,161,000 after acquiring an additional 16,724 shares during the period. Finally, Sachetta LLC increased its stake in Salesforce by 5,505.1% in the 3rd quarter. Sachetta LLC now owns 10,986 shares of the CRM provider’s stock worth $3,007,000 after buying an additional 10,790 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CRM shares. Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Guggenheim reissued a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

Shares of NYSE CRM opened at $279.44 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50 day simple moving average of $315.19 and a two-hundred day simple moving average of $309.50. The stock has a market cap of $268.54 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,609 shares of company stock valued at $24,920,821 in the last three months. 3.20% of the stock is currently 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.