Heritage Wealth Advisors Sells 229 Shares of Salesforce, Inc. (NYSE:CRM)

Heritage Wealth Advisors lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 845 shares of the CRM provider’s stock after selling 229 shares during the period. Heritage Wealth Advisors’ holdings in Salesforce were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CRM. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter worth $31,000. Collier Financial bought a new stake in shares of Salesforce during the 4th quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at about $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, CEO Brian Millham sold 3,937 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $931,430.34. Following the sale, the insider now owns 125,146 shares of the company’s stock, valued at approximately $35,614,048.68. The trade was a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,194,689 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $288.59 on Wednesday. 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 $277.33 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm’s 50 day simple moving average is $312.15 and its 200 day simple moving average is $310.95.

Analyst Upgrades and Downgrades

CRM has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Stephens initiated coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Robert W. Baird decreased their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

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.