Fairscale Capital LLC Has $1.44 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Fairscale Capital LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,317 shares of the CRM provider’s stock after selling 64 shares during the period. Salesforce makes up approximately 1.2% of Fairscale Capital LLC’s investment portfolio, making the stock its 16th largest holding. Fairscale Capital LLC’s holdings in Salesforce were worth $1,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Bank grew its holdings in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Salesforce by 11.2% during the third quarter. Verdence Capital Advisors LLC now owns 2,174 shares of the CRM provider’s stock worth $595,000 after purchasing an additional 219 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Salesforce by 12.5% in the 3rd quarter. Assetmark Inc. now owns 131,337 shares of the CRM provider’s stock valued at $35,948,000 after buying an additional 14,551 shares during the period. Essex Savings Bank increased its position in shares of Salesforce by 5.2% in the 3rd quarter. Essex Savings Bank now owns 4,551 shares of the CRM provider’s stock valued at $1,246,000 after buying an additional 225 shares in the last quarter. Finally, GSG Advisors LLC raised its stake in Salesforce by 8.7% during the 3rd quarter. GSG Advisors LLC now owns 1,200 shares of the CRM provider’s stock worth $325,000 after buying an additional 96 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.2 %

CRM opened at $282.74 on Monday. The stock’s fifty day simple moving average is $323.68 and its 200 day simple moving average is $308.84. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last ninety days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Macquarie reduced 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. Finally, Jefferies Financial Group increased their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $365.62.

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.