ANTIPODES PARTNERS Ltd Makes New Investment in Salesforce, Inc. (NYSE:CRM)

ANTIPODES PARTNERS Ltd purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 129,327 shares of the CRM provider’s stock, valued at approximately $43,241,000. Salesforce comprises about 1.5% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 25th biggest holding.

A number of other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the 4th quarter worth $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 2.8 %

Shares of CRM opened at $284.88 on Thursday. The firm has a market cap of $273.77 billion, a P/E ratio of 46.85, 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. The company’s 50-day moving average price is $320.28 and its 200 day moving average price is $308.86. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. KeyCorp raised shares of 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. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Macquarie cut their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.62.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Company 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.