Salesforce, Inc. (NYSE:CRM) Shares Bought by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 21.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,624 shares of the CRM provider’s stock after purchasing an additional 829 shares during the period. Sage Mountain Advisors LLC’s holdings in Salesforce were worth $1,546,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CRM. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Collier Financial acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Finally, Morgan Stanley upped their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Price Performance

Shares of Salesforce stock opened at $272.38 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a fifty day moving average price of $322.41 and a two-hundred day moving average price of $308.93. The company has a market cap of $261.76 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.