Taylor Financial Group Inc. Makes New $229,000 Investment in Salesforce, Inc. (NYSE:CRM)

Taylor Financial Group Inc. purchased a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 685 shares of the CRM provider’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC lifted its holdings 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 worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth about $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE:CRM opened at $280.83 on Tuesday. The stock has a market cap of $269.87 billion, a P/E ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm’s fifty day simple moving average is $317.05 and its 200 day simple moving average is $309.53. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CRM shares. UBS Group increased their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson lowered their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Bank of America lowered their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $364.14.

Insider Activity

In other news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now 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. In the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company’s stock.

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.