Salesforce, Inc. (NYSE:CRM) Shares Purchased by Intact Investment Management Inc.

by · The Markets Daily

Intact Investment Management Inc. boosted its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 415.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,600 shares of the CRM provider’s stock after buying an additional 22,250 shares during the quarter. Intact Investment Management Inc.’s holdings in Salesforce were worth $9,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC grew its position 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 purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter valued at $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction 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 sale, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 in the last three months. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CRM. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Bank of America lowered their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Scotiabank cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $365.62.

View Our Latest Research Report on Salesforce

Salesforce Trading Down 4.8 %

Salesforce stock opened at $270.94 on Friday. The firm has a 50 day moving average of $319.09 and a 200 day moving average of $308.60. The firm has a market capitalization of $260.37 billion, a price-to-earnings ratio of 44.56, 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM – Free Report).