Aire Advisors LLC Purchases 57 Shares of Salesforce, Inc. (NYSE:CRM)

Aire Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 975 shares of the CRM provider’s stock after acquiring an additional 57 shares during the quarter. Aire Advisors LLC’s holdings in Salesforce were worth $326,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Salesforce in the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC increased its holdings in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its holdings in 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 buying an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after acquiring an additional 931,566 shares during the last quarter. Finally, State Street Corp raised its position in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,541 shares of company stock valued at $11,599,604 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $286.26 on Tuesday. The company has a market capitalization of $275.10 billion, a PE ratio of 47.08, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $312.85 and a two-hundred day moving average price of $310.64. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRM shares. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Truist Financial reissued a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Finally, Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued 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 stock has an average rating of “Moderate Buy” and an average target price of $362.74.

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.