1,319 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Bestgate Wealth Advisors LLC

Bestgate Wealth Advisors LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,319 shares of the CRM provider’s stock, valued at approximately $441,000. Salesforce accounts for approximately 0.9% of Bestgate Wealth Advisors LLC’s portfolio, making the stock its 28th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Foundations Investment Advisors LLC grew its holdings in Salesforce by 15.0% in 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 last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce in the third quarter valued at $1,215,000. Athena Investment Management acquired a new stake in Salesforce in the fourth quarter valued at $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $4,321,000. Finally, Geode Capital Management LLC grew its holdings in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction on Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now owns 2,898,509 shares of the company’s stock, valued at $987,087,239.95. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,609 shares of company stock valued at $24,920,821 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CRM shares. Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays upped 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. Canaccord Genuity Group reduced their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday. Two investment 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $364.14.

Salesforce Trading Down 0.6 %

Shares of NYSE CRM opened at $278.98 on Wednesday. The company has a market cap of $268.10 billion, a price-to-earnings ratio of 45.88, a price-to-earnings-growth 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. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $316.13 and its 200 day simple moving average is $309.71.

About Salesforce

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.