Brooklyn FI LLC Purchases Shares of 9,152 Salesforce, Inc. (NYSE:CRM)

Brooklyn FI LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,152 shares of the CRM provider’s stock, valued at approximately $2,921,000.

Several other institutional investors have also recently modified their holdings of the stock. United Bank increased its position in Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares in the last quarter. GLOBALT Investments LLC GA boosted its stake in shares of Salesforce by 3.8% during the 3rd quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock worth $361,000 after purchasing an additional 48 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Salesforce during the 3rd quarter worth about $1,051,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Salesforce during the third quarter valued at approximately $213,000. Finally, Joseph Group Capital Management boosted its position in Salesforce by 35.0% during the third quarter. Joseph Group Capital Management now owns 9,696 shares of the CRM provider’s stock worth $2,654,000 after acquiring an additional 2,515 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 0.6 %

Shares of CRM opened at $278.98 on Wednesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a 50-day moving average price of $316.13 and a 200 day moving average price of $309.71. 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 market capitalization of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Activity

In related news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the transaction, the director now directly owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on CRM shares. DA Davidson cut their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, BMO Capital Markets cut their price objective on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $364.14.

Salesforce 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.