Jupiter Asset Management Ltd. Purchases 128,999 Shares of Salesforce, Inc. (NYSE:CRM)

Jupiter Asset Management Ltd. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 197.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 194,368 shares of the CRM provider’s stock after purchasing an additional 128,999 shares during the period. Jupiter Asset Management Ltd.’s holdings in Salesforce were worth $64,983,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the third quarter valued at about $27,000. Arlington Trust Co LLC grew 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 buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial acquired a new stake in Salesforce in the fourth quarter valued at about $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. The trade was a 0.78 % 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 quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.6 %

Shares of CRM stock opened at $277.40 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 stock’s 50 day simple moving average is $321.27 and its two-hundred day simple moving average is $309.03. The company has a market cap of $266.58 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. UBS Group raised their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Barclays lifted their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $365.62.

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.