Haverford Trust Co Acquires 2,896 Shares of Salesforce, Inc. (NYSE:CRM)

Haverford Trust Co raised its holdings in Salesforce, Inc. (NYSE:CRM) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,840 shares of the CRM provider’s stock after acquiring an additional 2,896 shares during the quarter. Haverford Trust Co’s holdings in Salesforce were worth $23,684,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 257,501 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRM shares. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday. Finally, Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Price Performance

Shares of NYSE:CRM opened at $281.56 on Monday. The stock’s fifty day simple moving average is $313.51 and its two-hundred day simple moving average is $310.36. The stock has a market cap of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth 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.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,762 shares of company stock valued at $13,733,407. Company insiders own 3.20% of the company’s stock.

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.