Eos Management L.P. Makes New $1.95 Million Investment in Salesforce, Inc. (NYSE:CRM)

Eos Management L.P. acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,843 shares of the CRM provider’s stock, valued at approximately $1,953,000. Salesforce makes up approximately 0.8% of Eos Management L.P.’s holdings, making the stock its 23rd biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC lifted its position 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 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 $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at $31,000. Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter worth about $27,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Guggenheim restated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. KeyCorp raised 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. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.62.

Insider Activity at Salesforce

In other Salesforce news, Director Robin L. Washington purchased 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 3.7 %

Salesforce stock opened at $272.38 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $322.41 and a 200-day moving average of $308.93. The company has a market cap of $261.76 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce 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.