2,463 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Millstone Evans Group LLC

Millstone Evans Group LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,463 shares of the CRM provider’s stock, valued at approximately $823,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. United Bank grew 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 worth $1,999,000 after acquiring an additional 76 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Salesforce by 13.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock worth $6,044,000 after purchasing an additional 2,665 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in Salesforce by 40.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock worth $20,609,000 after purchasing an additional 21,540 shares during the period. AlphaCore Capital LLC raised its position in Salesforce by 15.6% in the 3rd quarter. AlphaCore Capital LLC now owns 6,397 shares of the CRM provider’s stock valued at $1,753,000 after purchasing an additional 864 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Salesforce by 3.0% in the 3rd quarter. Raymond James Trust N.A. now owns 50,667 shares of the CRM provider’s stock valued at $13,868,000 after buying an additional 1,473 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $362.74.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated 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 owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $281.56 on Friday. 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 50 day simple moving average of $313.51 and a 200-day simple moving average of $309.49. The company has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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.