Trivest Advisors Ltd Has $102.81 Million Position in Salesforce, Inc. (NYSE:CRM)

Trivest Advisors Ltd lessened its stake in Salesforce, Inc. (NYSE:CRM) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,500 shares of the CRM provider’s stock after selling 52,500 shares during the quarter. Salesforce makes up 4.7% of Trivest Advisors Ltd’s holdings, making the stock its 7th biggest position. Trivest Advisors Ltd’s holdings in Salesforce were worth $102,806,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other Salesforce news, Director Robin L. Washington acquired 1,695 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of 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. In the last three months, insiders have sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $278.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market cap of $268.10 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm’s fifty day moving average is $316.13 and its 200-day moving average is $309.71.

Analysts Set New Price Targets

Several equities analysts have commented on CRM shares. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Macquarie lowered their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. DA Davidson lowered their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Scotiabank dropped their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $364.14.

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.