900 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Coordinated Financial Services Inc.

Coordinated Financial Services Inc. purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 900 shares of the CRM provider’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. M&G PLC increased its holdings in Salesforce by 97.3% in the 3rd quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock worth $3,911,000 after buying an additional 7,038 shares during the period. Consolidated Planning Corp acquired a new position in Salesforce in the 3rd quarter worth approximately $206,000. ABLE Financial Group LLC acquired a new position in Salesforce in the 3rd quarter worth approximately $213,000. Source Financial Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $222,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $3,769,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robin L. Washington purchased 1,695 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock worth $383,156,227 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRM. Loop Capital dropped their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Stock Down 1.2 %

Shares of NYSE:CRM opened at $282.74 on Friday. 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 market capitalization of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average is $323.68 and its two-hundred day moving average is $308.50. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

About Salesforce

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.