131,358 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 131,358 shares of the CRM provider’s stock, valued at approximately $43,917,000. Salesforce comprises about 3.1% of Keystone Investors PTE Ltd.’s portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Financial LLC grew its stake in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC raised its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,541 shares of company stock valued at $11,599,604 over the last three months. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $286.26 on Tuesday. The company’s fifty day simple moving average is $312.85 and its 200-day simple moving average is $310.64. 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 52 week low of $212.00 and a 52 week high of $369.00. The company has a market cap of $275.10 billion, a PE ratio of 47.08, a P/E/G ratio of 2.58 and a beta of 1.35.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price 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. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.74.

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.