Investment House LLC Has $13.07 Million Position in Salesforce, Inc. (NYSE:CRM)

Investment House LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,104 shares of the CRM provider’s stock after selling 210 shares during the period. Investment House LLC’s holdings in Salesforce were worth $13,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its stake in shares of 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 bought a new position in Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the 4th quarter valued at approximately $31,000. Collier Financial bought a new position in Salesforce in the 4th quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter valued at approximately $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM opened at $278.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $268.10 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. The firm’s fifty day moving average price is $316.13 and its two-hundred day moving average price is $309.71. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. Finally, Macquarie lowered their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $364.14.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. 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 three months. 3.20% of the stock is currently owned by insiders.

Salesforce Company 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.