Millstone Evans Group LLC Purchases Shares of 2,463 Salesforce, Inc. (NYSE:CRM)

Millstone Evans Group LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,463 shares of the CRM provider’s stock, valued at approximately $823,000.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Salesforce during the 4th quarter valued at about $1,173,564,000. Jennison Associates LLC lifted its holdings in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB boosted its position in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after buying an additional 931,566 shares during the period. Finally, State Street Corp raised its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock opened at $281.56 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 company has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average is $313.51 and its two-hundred day moving average is $309.49. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. 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 report on Thursday, February 27th. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research note on Wednesday. DA Davidson lowered their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity

In related news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, 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. In the last 90 days, insiders have sold 60,256 shares of company stock valued at $19,692,357. 3.20% of the stock is currently owned by company insiders.

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.