Sequoia Financial Advisors LLC Buys 146,150 Shares of Salesforce, Inc. (NYSE:CRM)

Sequoia Financial Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 128.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 260,293 shares of the CRM provider’s stock after buying an additional 146,150 shares during the quarter. Salesforce comprises 0.8% of Sequoia Financial Advisors LLC’s investment portfolio, making the stock its 20th largest position. Sequoia Financial Advisors LLC’s holdings in Salesforce were worth $87,024,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CRM. Arlington Trust Co LLC grew its position in Salesforce by 85.1% in 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 in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Collier Financial purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Scotiabank decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a report on Thursday, February 27th. Robert W. Baird dropped their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Northland Securities restated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Two 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Up 1.6 %

Shares of Salesforce stock opened at $277.40 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a 50 day simple moving average of $321.27 and a two-hundred day simple moving average of $309.03. The firm has a market cap of $266.58 billion, a PE ratio of 45.63, a PEG 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.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the business’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 transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % 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 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.