Salesforce, Inc. (NYSE:CRM) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 54,988 shares of the CRM provider’s stock after purchasing an additional 7,289 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Salesforce were worth $18,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC raised its stake in 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 acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the sale, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock worth $19,692,357 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CRM shares. Guggenheim reiterated a “sell” rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Canaccord Genuity Group dropped their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group lifted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer dropped their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Down 0.1 %

CRM stock opened at $279.07 on Friday. The company’s 50 day simple moving average is $314.23 and its 200-day simple moving average is $309.29. The firm has a market capitalization of $268.19 billion, a PE ratio of 45.90, a P/E/G 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 company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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.