Future Fund LLC Sells 2,849 Shares of Salesforce, Inc. (NYSE:CRM)

Future Fund LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 47.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,216 shares of the CRM provider’s stock after selling 2,849 shares during the period. Salesforce comprises approximately 3.1% of Future Fund LLC’s holdings, making the stock its 15th largest position. Future Fund LLC’s holdings in Salesforce were worth $1,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nvest Financial LLC boosted its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD grew its stake in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC raised its stake in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $282.74 on Monday. The stock’s fifty day simple moving average is $323.68 and its 200 day simple moving average is $308.84. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Buying and Selling at Salesforce

In other news, Director Robin L. Washington acquired 1,695 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Scotiabank cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Finally, UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Two research 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 assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target 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.