Harbour Investments Inc. Buys 300 Shares of Salesforce, Inc. (NYSE:CRM)

Harbour Investments Inc. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 9.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,407 shares of the CRM provider’s stock after acquiring an additional 300 shares during the quarter. Harbour Investments Inc.’s holdings in Salesforce were worth $1,139,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce in the 3rd quarter valued at approximately $1,215,000. Athena Investment Management bought a new position in shares of Salesforce in the 4th quarter valued at approximately $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC raised its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Salesforce stock opened at $278.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. The business’s fifty day moving average is $316.13 and its two-hundred day moving average is $309.71. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Insider Activity

In other news, Director G Mason Morfit sold 15,353 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the transaction, the director now owns 2,898,509 shares of the company’s stock, valued at $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,609 shares of company stock valued at $24,920,821 over the last 90 days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRM shares. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Macquarie lowered their target price on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer lowered their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $364.14.

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.