Salesforce, Inc. (NYSE:CRM) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 65.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,232 shares of the CRM provider’s stock after purchasing an additional 883 shares during the quarter. Modern Wealth Management LLC’s holdings in Salesforce were worth $730,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth about $27,000. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% in the fourth 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 during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Guggenheim reiterated a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Trading Down 2.7 %

Shares of CRM stock opened at $280.93 on Thursday. The business’s fifty day moving average price is $311.35 and its 200 day moving average price is $310.74. The firm has a market capitalization of $269.97 billion, a PE ratio of 46.21, a P/E/G 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. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s 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 sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,273 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the sale, the insider now owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,875 shares of company stock valued at $13,580,649 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.