Diversified Enterprises LLC Purchases 127 Shares of Salesforce, Inc. (NYSE:CRM)

Diversified Enterprises LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,056 shares of the CRM provider’s stock after acquiring an additional 127 shares during the period. Diversified Enterprises LLC’s holdings in Salesforce were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CRM. Raymond James Financial Inc. bought a new position in shares of Salesforce in the fourth quarter valued at about $1,173,564,000. Jennison Associates LLC raised its stake in shares of 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 acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB lifted its position in shares of Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRM shares. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $279.76 on Friday. The stock has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a fifty day simple moving average of $318.03 and a 200 day simple moving average of $309.01. 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 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.