Barlow Wealth Partners LLC boosted its position in Salesforce Inc. (NYSE:CRM – Free Report) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,094 shares of the CRM provider’s stock after buying an additional 14,181 shares during the quarter. Salesforce accounts for approximately 2.6% of Barlow Wealth Partners LLC’s holdings, making the stock its 17th biggest holding. Barlow Wealth Partners LLC’s holdings in Salesforce were worth $24,770,000 at the end of the most recent quarter.
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Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Salesforce in the 2nd quarter valued at approximately $11,396,844,000. Arrowstreet Capital Limited Partnership raised its holdings in Salesforce by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after acquiring an additional 7,160,302 shares in the last quarter. Bank of America Corp DE raised its holdings in Salesforce by 28.0% in the first quarter. Bank of America Corp DE now owns 11,724,790 shares of the CRM provider’s stock valued at $2,188,666,000 after acquiring an additional 2,561,923 shares in the last quarter. Legal & General Group Plc acquired a new stake in Salesforce in the second quarter valued at $927,332,000. Finally, Bank of New York Mellon Corp bought a new position in Salesforce during the 2nd quarter valued at $844,928,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Insider Activity
In other Salesforce news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Blair Kirk bought 4,176 shares of the stock in a transaction dated Friday, September 18th. The shares were bought at an average cost of $239.33 per share, with a total value of $999,442.08. Following the completion of the acquisition, the director directly owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is owned by corporate insiders.
Salesforce Stock Up 4.5%
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CRM stock opened at $246.66 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The firm has a fifty day moving average price of $230.50 and a two-hundred day moving average price of $194.50. The firm has a market cap of $203.00 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.07 and a beta of 1.26.
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