Simplicity Wealth LLC Sells 1,527 Shares of Salesforce, Inc. (NYSE:CRM)

Simplicity Wealth LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,542 shares of the CRM provider’s stock after selling 1,527 shares during the quarter. Simplicity Wealth LLC’s holdings in Salesforce were worth $515,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Barclays boosted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Robert W. Baird dropped their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Oppenheimer dropped their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Stock Performance

NYSE:CRM opened at $272.38 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $322.41 and a two-hundred day moving average of $308.93. The stock has a market capitalization of $261.76 billion, a PE ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Company 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.