Signature Estate & Investment Advisors LLC Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Signature Estate & Investment Advisors LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,389 shares of the CRM provider’s stock after selling 15,454 shares during the quarter. Salesforce accounts for 1.7% of Signature Estate & Investment Advisors LLC’s investment portfolio, making the stock its 14th largest position. Signature Estate & Investment Advisors LLC’s holdings in Salesforce were worth $68,668,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Foundations Investment Advisors LLC increased its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce during the 3rd quarter worth $1,215,000. Athena Investment Management purchased a new stake in shares of Salesforce during the fourth quarter worth $236,000. Highland Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $4,321,000. Finally, Geode Capital Management LLC lifted its stake in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 2.0 %

Shares of Salesforce stock opened at $286.26 on Tuesday. 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 company has a fifty day simple moving average of $312.85 and a 200-day simple moving average of $310.64. The stock has a market cap of $275.10 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRM shares. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. TD Cowen upgraded 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. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,541 shares of company stock worth $11,599,604. Corporate insiders own 3.20% of the company’s stock.

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.