Meriwether Wealth & Planning LLC Invests $317,000 in Salesforce, Inc. (NYSE:CRM)

Meriwether Wealth & Planning LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 949 shares of the CRM provider’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $282.74 on Monday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. The company has a fifty day simple moving average of $323.68 and a 200-day simple moving average of $308.84. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’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 sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents 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 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Truist Financial reissued a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Two equities research 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Company 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.