Royal London Asset Management Ltd. Grows Stake in Salesforce, Inc. (NYSE:CRM)

Royal London Asset Management Ltd. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 1.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 570,423 shares of the CRM provider’s stock after acquiring an additional 5,506 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Salesforce were worth $190,710,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CRM. Next Capital Management LLC grew its position in Salesforce by 42.7% in the fourth quarter. Next Capital Management LLC now owns 1,480 shares of the CRM provider’s stock valued at $495,000 after acquiring an additional 443 shares in the last quarter. Generali Investments Management Co LLC acquired a new stake in Salesforce during the 4th quarter valued at $7,879,000. GM Advisory Group LLC increased its stake in Salesforce by 73.5% during the 4th quarter. GM Advisory Group LLC now owns 1,393 shares of the CRM provider’s stock worth $466,000 after buying an additional 590 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Salesforce by 408.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 45,462 shares of the CRM provider’s stock worth $15,207,000 after buying an additional 36,526 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its position in Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock valued at $346,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM opened at $279.44 on Thursday. The business has a 50 day moving average price of $315.19 and a two-hundred day moving average price of $309.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $268.54 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Insider Activity

In other Salesforce news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,609 shares of company stock worth $24,920,821 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.