Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 81,757 shares of the CRM provider’s stock after buying an additional 4,623 shares during the period. Avantax Advisory Services Inc.’s holdings in Salesforce were worth $27,334,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. United Bank lifted its holdings in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in shares of Salesforce by 7.5% during the third quarter. Jaffetilchin Investment Partners LLC now owns 4,128 shares of the CRM provider’s stock valued at $1,130,000 after purchasing an additional 289 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Salesforce by 0.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,704 shares of the CRM provider’s stock worth $1,835,000 after acquiring an additional 58 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in Salesforce by 16.4% in the 3rd quarter. Everhart Financial Group Inc. now owns 5,086 shares of the CRM provider’s stock worth $1,392,000 after acquiring an additional 715 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Salesforce by 5.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 25,801 shares of the CRM provider’s stock worth $7,062,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

NYSE:CRM opened at $277.40 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $321.27 and its two-hundred day moving average price is $309.03. The firm has a market capitalization of $266.58 billion, a price-to-earnings ratio of 45.63, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Analysts Set New Price Targets

CRM has been the subject of several research analyst reports. Macquarie reduced their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. DA Davidson cut their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.