Ashton Thomas Securities LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Ashton Thomas Securities LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,664 shares of the CRM provider’s stock after buying an additional 454 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Salesforce were worth $2,227,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth about $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,541 shares of company stock worth $11,599,604. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRM. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Performance

Shares of CRM opened at $286.26 on Tuesday. The firm has a market cap of $275.10 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 2.58 and a beta of 1.35. 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 business’s 50 day moving average is $312.85 and its two-hundred day moving average is $310.64. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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.