Catalyst Funds Management Pty Ltd Takes $5.25 Million Position in Salesforce, Inc. (NYSE:CRM)

Catalyst Funds Management Pty Ltd bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,700 shares of the CRM provider’s stock, valued at approximately $5,249,000. Salesforce comprises approximately 1.3% of Catalyst Funds Management Pty Ltd’s holdings, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Nvest Financial LLC grew its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC raised its stake in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on CRM shares. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Jefferies Financial Group boosted their target price 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. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $279.76 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $268.85 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business has a fifty day simple moving average of $318.03 and a 200-day simple moving average of $308.70.

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.