Crowley Wealth Management Inc. Buys Shares of 200 Salesforce, Inc. (NYSE:CRM)

Crowley Wealth Management Inc. acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200 shares of the CRM provider’s stock, valued at approximately $67,000.

A number of other large investors have also recently added to or reduced their stakes in CRM. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Salesforce in the third quarter valued at about $1,215,000. Athena Investment Management acquired a new position in Salesforce in the fourth quarter valued at about $236,000. Highland Capital Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $4,321,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 0.9 %

Shares of CRM stock opened at $281.56 on Monday. The business’s fifty day moving average price is $313.51 and its 200 day moving average price is $310.36. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Analysts Set New Price Targets

Several brokerages have recently commented on CRM. Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday. DA Davidson decreased their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,762 shares of company stock valued at $13,733,407 in the last ninety days. 3.20% of the stock is currently owned by company 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.