Momentous Wealth Management Inc. Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Momentous Wealth Management Inc. bought a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 937 shares of the CRM provider’s stock, valued at approximately $313,000. Salesforce makes up approximately 0.3% of Momentous Wealth Management Inc.’s investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC increased its position 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 valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the fourth quarter worth approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,541 shares of company stock valued at $11,599,604 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 2.0 %

CRM stock opened at $286.26 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50-day simple moving average of $312.85 and a 200-day simple moving average of $310.64. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $275.10 billion, a P/E ratio of 47.08, a P/E/G ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a report on Friday, December 13th. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Macquarie reiterated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target 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.