Salesforce, Inc. (NYSE:CRM) Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners grew its position in Salesforce, Inc. (NYSE:CRM) by 31.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,733 shares of the CRM provider’s stock after acquiring an additional 410 shares during the quarter. Balboa Wealth Partners’ holdings in Salesforce were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Collier Financial bought a new stake in shares of Salesforce in the 4th quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter valued at approximately $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $284.88 on Thursday. The company has a 50-day moving average of $320.28 and a two-hundred day moving average of $308.86. The stock has a market cap of $273.77 billion, a price-to-earnings ratio of 46.85, a PEG 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. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Wall Street Analyst Weigh In

CRM has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Two investment 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $365.62.

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.