693 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by RKL Wealth Management LLC

RKL Wealth Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 693 shares of the CRM provider’s stock, valued at approximately $232,000.

Other large investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce during the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC raised its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Athena Investment Management acquired a new stake in Salesforce during the fourth quarter worth approximately $236,000. Finally, Aljian Capital Management LLC raised its holdings in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. 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 report on Friday, December 13th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, JMP Securities restated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Down 1.2 %

NYSE:CRM opened at $282.74 on Friday. 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. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a fifty day simple moving average of $323.68 and a 200-day simple moving average of $308.50.

About Salesforce

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.