Salesforce, Inc. (NYSE:CRM) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,811,354 shares of the CRM provider’s stock after buying an additional 67,930 shares during the quarter. Salesforce makes up approximately 0.7% of American Century Companies Inc.’s holdings, making the stock its 13th largest holding. American Century Companies Inc.’s holdings in Salesforce were worth $1,274,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Bank raised its holdings in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after buying an additional 76 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Salesforce by 13.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock worth $6,044,000 after acquiring an additional 2,665 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Salesforce by 40.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock worth $20,609,000 after acquiring an additional 21,540 shares during the last quarter. AlphaCore Capital LLC grew its stake in Salesforce by 15.6% during the 3rd quarter. AlphaCore Capital LLC now owns 6,397 shares of the CRM provider’s stock valued at $1,753,000 after purchasing an additional 864 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of Salesforce by 3.0% in the third quarter. Raymond James Trust N.A. now owns 50,667 shares of the CRM provider’s stock valued at $13,868,000 after purchasing an additional 1,473 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group lifted their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Finally, UBS Group increased their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated 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 directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock worth $19,692,357 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.9 %

Shares of NYSE CRM opened at $281.56 on Friday. The stock has a market cap 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 company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a 50-day moving average of $313.51 and a 200 day moving average of $309.49.

Salesforce Company 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.