Sfmg LLC Sells 383 Shares of Salesforce, Inc. (NYSE:CRM)

Sfmg LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,965 shares of the CRM provider’s stock after selling 383 shares during the period. Salesforce accounts for about 0.6% of Sfmg LLC’s investment portfolio, making the stock its 24th biggest holding. Sfmg LLC’s holdings in Salesforce were worth $7,678,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial bought a new position in Salesforce in the fourth quarter worth approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the transaction, the chief operating officer now owns 1,662 shares in the company, valued at $566,210.16. This represents a 90.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,256 shares of company stock worth $19,692,357. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.9 %

Shares of Salesforce stock opened at $281.56 on Friday. The firm has a 50-day simple moving average of $313.51 and a two-hundred day simple moving average of $309.49. The company has a market cap of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth 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. 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 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.