EverSource Wealth Advisors LLC Buys 1,072 Shares of Salesforce, Inc. (NYSE:CRM)

EverSource Wealth Advisors LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 16.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,428 shares of the CRM provider’s stock after purchasing an additional 1,072 shares during the period. EverSource Wealth Advisors LLC’s holdings in Salesforce were worth $2,483,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new position in shares of Salesforce in the third quarter valued at about $1,215,000. Athena Investment Management purchased a new position in shares of Salesforce in the fourth quarter valued at about $236,000. Aljian Capital Management LLC lifted its position in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares in the last quarter. Finally, Highland Capital Management LLC purchased a new position in shares of Salesforce in the fourth quarter valued at about $4,321,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRM. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. Barclays boosted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Up 2.8 %

CRM opened at $284.88 on Thursday. The stock has a market cap of $273.77 billion, a price-to-earnings ratio of 46.85, a P/E/G ratio of 2.58 and a beta of 1.35. The stock’s 50 day moving average price is $320.28 and its 200-day moving average price is $308.86. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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.