Salesforce, Inc. (NYSE:CRM) Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 197.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 194,368 shares of the CRM provider’s stock after buying an additional 128,999 shares during the period. Jupiter Asset Management Ltd.’s holdings in Salesforce were worth $64,983,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $27,000. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on CRM shares. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Scotiabank dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Guggenheim reissued a “sell” rating and set a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, UBS Group boosted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Trading Up 1.6 %

Salesforce stock opened at $277.40 on Wednesday. The firm has a 50 day simple moving average of $321.27 and a 200-day simple moving average of $309.03. 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 stock has a market capitalization of $266.58 billion, a PE ratio of 45.63, 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.

Insider Buying and Selling

In other news, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.