Salesforce, Inc. (NYSE:CRM) Holdings Raised by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 566.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,907 shares of the CRM provider’s stock after purchasing an additional 51,772 shares during the quarter. iA Global Asset Management Inc.’s holdings in Salesforce were worth $20,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at about $27,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the fourth 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 bought a new stake in shares of Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial bought a new stake in Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. Scotiabank dropped their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. 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 research report on Wednesday, December 4th. Robert W. Baird dropped their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Guggenheim restated a “sell” rating and set a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,609 shares of company stock valued at $24,920,821 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE CRM opened at $279.44 on Thursday. The stock has a market cap of $268.54 billion, a P/E ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35. The company’s 50-day simple moving average is $315.19 and its 200 day simple moving average is $309.50. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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.