Generali Investments Management Co LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Generali Investments Management Co LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 23,566 shares of the CRM provider’s stock, valued at approximately $7,879,000. Salesforce accounts for 2.0% of Generali Investments Management Co LLC’s investment portfolio, making the stock its 10th biggest holding.

Other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce in the third quarter valued at approximately $1,215,000. Athena Investment Management bought a new position in shares of Salesforce in the fourth quarter valued at approximately $236,000. Highland Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC increased its holdings in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Canaccord Genuity Group lowered their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Guggenheim reissued a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $364.14.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce 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 sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares in the company, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 0.6 %

Shares of Salesforce stock opened at $278.98 on Wednesday. The business’s 50 day simple moving average is $316.13 and its 200 day simple moving average is $309.71. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $268.10 billion, a PE ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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.