Marietta Investment Partners LLC Buys 257 Shares of Salesforce, Inc. (NYSE:CRM)

Marietta Investment Partners LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,355 shares of the CRM provider’s stock after acquiring an additional 257 shares during the quarter. Marietta Investment Partners LLC’s holdings in Salesforce were worth $1,456,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRM. Raymond James Financial Inc. purchased a new position in Salesforce during the 4th quarter valued at $1,173,564,000. Jennison Associates LLC boosted its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. Swedbank AB boosted its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. Proficio Capital Partners LLC boosted its holdings in Salesforce by 56,872.2% during 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 period. Finally, State Street Corp boosted its holdings in Salesforce by 1.8% during 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. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRM shares. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Canaccord Genuity Group lowered their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 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 given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Up 0.9 %

Shares of CRM stock opened at $281.56 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The stock’s 50-day simple moving average is $313.51 and its 200-day simple moving average is $309.49.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s 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 sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock worth $19,692,357 over the last quarter. 3.20% of the stock is currently owned by insiders.

About Salesforce

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.