Mosley Wealth Management Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Mosley Wealth Management raised its position in Salesforce, Inc. (NYSE:CRM) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 944 shares of the CRM provider’s stock after acquiring an additional 67 shares during the quarter. Mosley Wealth Management’s holdings in Salesforce were worth $334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Partners Inc. purchased a new stake in Salesforce during the 4th quarter valued at approximately $230,000. Fortis Capital Management LLC grew its holdings in Salesforce by 29.3% during the 4th quarter. Fortis Capital Management LLC now owns 13,948 shares of the CRM provider’s stock valued at $4,663,000 after buying an additional 3,164 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Salesforce during the fourth quarter worth about $121,868,000. AXQ Capital LP lifted its position in Salesforce by 135.1% during the fourth quarter. AXQ Capital LP now owns 2,111 shares of the CRM provider’s stock worth $706,000 after buying an additional 1,213 shares during the period. Finally, Marietta Investment Partners LLC raised its stake in Salesforce by 6.3% during the fourth quarter. Marietta Investment Partners LLC now owns 4,355 shares of the CRM provider’s stock worth $1,456,000 after purchasing an additional 257 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 0.9 %

Shares of CRM stock opened at $281.56 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization 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. The firm’s fifty day simple moving average is $313.51 and its 200 day simple moving average is $309.92.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed 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 on Monday, March 17th. The stock was 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 approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,256 shares of company stock worth $19,692,357. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRM. Scotiabank reduced their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. DA Davidson lowered their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday. One investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.