Holderness Investments Co. Raises Stake in Salesforce, Inc. (NYSE:CRM)

Holderness Investments Co. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,644 shares of the CRM provider’s stock after buying an additional 258 shares during the period. Holderness Investments Co.’s holdings in Salesforce were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. United Bank raised its position 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 buying an additional 76 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Salesforce by 7.6% during the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock valued at $65,161,000 after buying an additional 16,724 shares during the last quarter. Howe & Rusling Inc. bought a new stake in shares of Salesforce during the third quarter valued at approximately $283,000. Advisors Asset Management Inc. raised its position in shares of Salesforce by 13.7% during the third quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock valued at $6,044,000 after buying an additional 2,665 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Salesforce by 1.0% during the third quarter. First Horizon Advisors Inc. now owns 18,830 shares of the CRM provider’s stock valued at $5,154,000 after buying an additional 181 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $279.07 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s 50 day moving average is $314.23 and its 200 day moving average is $309.29. 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 company has a market cap of $268.19 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares in the company, valued at approximately $566,210.16. This represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,256 shares of company stock worth $19,692,357. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday. They issued an “equal weight” rating and a $311.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $362.74.

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.