Virtu Financial LLC Makes New $6.93 Million Investment in Salesforce, Inc. (NYSE:CRM)

Virtu Financial LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 20,718 shares of the CRM provider’s stock, valued at approximately $6,927,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new position in shares of Salesforce in the fourth quarter valued at approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $281.56 on Friday. The firm has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a fifty day moving average of $313.51 and a 200 day moving average of $309.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,256 shares of company stock valued at $19,692,357. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.