Salesforce, Inc. (NYSE:CRM) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 9.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,407 shares of the CRM provider’s stock after purchasing an additional 300 shares during the quarter. Harbour Investments Inc.’s holdings in Salesforce were worth $1,139,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of 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. Highland Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $4,321,000. Finally, Geode Capital Management LLC grew its holdings in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at $987,087,239.95. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $144,874.08. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,609 shares of company stock valued at $24,920,821. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.6 %

Shares of Salesforce stock opened at $278.98 on Wednesday. The stock has a 50-day moving average price of $316.13 and a 200 day moving average price of $309.71. The company has a market cap of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. 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 1 year low of $212.00 and a 1 year high of $369.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CRM shares. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. Barclays upped their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Morgan Stanley upped their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $364.14.

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.