Salesforce, Inc. (NYSE:CRM) Shares Acquired by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,772 shares of the CRM provider’s stock after acquiring an additional 50 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Salesforce were worth $1,261,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CRM shares. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Scotiabank decreased their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday. Royal Bank of Canada boosted their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Buying and Selling at Salesforce

In other Salesforce 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 value of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,609 shares of company stock worth $24,920,821. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $279.44 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company’s 50 day simple moving average is $315.19 and its 200 day simple moving average is $309.50. The company has a market capitalization of $268.54 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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.