OFI Invest Asset Management Buys Shares of 169,835 Salesforce, Inc. (NYSE:CRM)

OFI Invest Asset Management bought a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel.com reports. The firm bought 169,835 shares of the CRM provider’s stock, valued at approximately $54,834,000. Salesforce makes up approximately 1.3% of OFI Invest Asset Management’s holdings, making the stock its 17th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nvest Financial LLC boosted its position in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC boosted its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its position 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 buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 942 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last three months. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 1.2 %

Salesforce stock opened at $282.74 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock 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 firm’s 50-day simple moving average is $323.68 and its 200 day simple moving average is $308.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRM shares. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Finally, Royal Bank of Canada lifted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.