Lifeworks Advisors LLC Buys 223 Shares of Salesforce, Inc. (NYSE:CRM)

Lifeworks Advisors LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,055 shares of the CRM provider’s stock after buying an additional 223 shares during the quarter. Lifeworks Advisors LLC’s holdings in Salesforce were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CRM. HM Payson & Co. raised its stake in shares of Salesforce by 12.8% in the fourth quarter. HM Payson & Co. now owns 4,638 shares of the CRM provider’s stock valued at $1,551,000 after acquiring an additional 526 shares during the period. Arjuna Capital bought a new position in Salesforce during the 4th quarter valued at about $1,570,000. NS Partners Ltd raised its position in Salesforce by 12.9% in the 4th quarter. NS Partners Ltd now owns 114,877 shares of the CRM provider’s stock worth $38,407,000 after purchasing an additional 13,161 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Salesforce in the fourth quarter worth about $5,157,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Salesforce by 6.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 252,426 shares of the CRM provider’s stock valued at $84,394,000 after buying an additional 14,359 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CRM shares. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. UBS Group increased their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Activity

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $282.74 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company’s 50 day moving average is $323.68 and its 200 day moving average is $308.50.

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.