Impact Capital Partners LLC Invests $694,000 in Salesforce, Inc. (NYSE:CRM)

Impact Capital Partners LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,075 shares of the CRM provider’s stock, valued at approximately $694,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. United Bank increased its holdings in shares of Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares during the period. First Heartland Consultants Inc. increased its stake in Salesforce by 36.6% in the third quarter. First Heartland Consultants Inc. now owns 1,851 shares of the CRM provider’s stock valued at $507,000 after acquiring an additional 496 shares during the period. Aptus Capital Advisors LLC increased its stake in Salesforce by 24.0% in the third quarter. Aptus Capital Advisors LLC now owns 8,917 shares of the CRM provider’s stock valued at $2,441,000 after acquiring an additional 1,724 shares during the period. RPG Investment Advisory LLC increased its stake in Salesforce by 3.6% in the third quarter. RPG Investment Advisory LLC now owns 38,101 shares of the CRM provider’s stock valued at $10,429,000 after acquiring an additional 1,340 shares during the period. Finally, Dillon & Associates Inc. increased its stake in Salesforce by 3.1% in the third quarter. Dillon & Associates Inc. now owns 27,584 shares of the CRM provider’s stock valued at $7,558,000 after acquiring an additional 836 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last quarter. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRM. Guggenheim reissued a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Truist Financial restated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Stock Performance

Shares of CRM stock opened at $284.88 on Thursday. The stock has a market cap of $273.77 billion, a P/E ratio of 46.85, 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 current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day moving average price of $320.28 and a two-hundred day moving average price of $308.86. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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.