Lifeworks Advisors LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Lifeworks Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,055 shares of the CRM provider’s stock after acquiring an additional 223 shares during the period. Lifeworks Advisors LLC’s holdings in Salesforce were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its stake in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after acquiring an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % 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, Director Robin L. Washington purchased 1,695 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

CRM stock opened at $282.74 on Friday. 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 company’s fifty day moving average price is $323.68 and its 200-day moving average price is $308.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Oppenheimer reduced their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Citigroup restated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.