Parametrica Management Ltd Has $3.07 Million Stake in Salesforce, Inc. (NYSE:CRM)

Parametrica Management Ltd grew its position in Salesforce, Inc. (NYSE:CRM) by 36.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,172 shares of the CRM provider’s stock after acquiring an additional 2,472 shares during the quarter. Salesforce makes up approximately 4.1% of Parametrica Management Ltd’s holdings, making the stock its 7th largest position. Parametrica Management Ltd’s holdings in Salesforce were worth $3,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. United Bank increased its stake in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the period. Penserra Capital Management LLC boosted its stake in Salesforce by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider’s stock worth $2,415,000 after purchasing an additional 105 shares during the period. Hancock Whitney Corp grew its position in Salesforce by 0.8% during the third quarter. Hancock Whitney Corp now owns 10,807 shares of the CRM provider’s stock valued at $2,958,000 after purchasing an additional 88 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in shares of Salesforce by 7.9% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 78,019 shares of the CRM provider’s stock worth $21,355,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Salesforce by 5.1% in the 3rd quarter. Brooklyn Investment Group now owns 7,167 shares of the CRM provider’s stock valued at $1,962,000 after purchasing an additional 346 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Northland Securities reiterated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Price Performance

Shares of CRM opened at $288.59 on Wednesday. The company has a market cap of $277.33 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $312.15 and its 200 day simple moving average is $310.95. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 3,273 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now directly owns 125,146 shares of the company’s stock, valued at $35,614,048.68. This represents a 2.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,660 shares of company stock worth $14,194,689. Company insiders own 3.20% of the company’s stock.

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.