GWN Securities Inc. Makes New $367,000 Investment in Salesforce, Inc. (NYSE:CRM)

GWN Securities Inc. bought a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,100 shares of the CRM provider’s stock, valued at approximately $367,000.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the 4th quarter valued at $1,173,564,000. Jennison Associates LLC grew its position in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. Swedbank AB grew its position in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. Proficio Capital Partners LLC grew its position in shares of Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after acquiring an additional 931,566 shares during the period. Finally, State Street Corp grew its position in shares of 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 acquiring an additional 864,193 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock worth $383,156,227 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRM. Bank of America cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Price Performance

Shares of CRM stock opened at $279.76 on Monday. 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 company has a market capitalization of $268.85 billion, a P/E ratio of 46.01, a P/E/G ratio of 2.58 and a beta of 1.35. The company’s 50-day simple moving average is $318.03 and its two-hundred day simple moving average is $309.36. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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.