Aviso Wealth Management Acquires 73 Shares of Salesforce, Inc. (NYSE:CRM)

Aviso Wealth Management lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,698 shares of the CRM provider’s stock after purchasing an additional 73 shares during the period. Aviso Wealth Management’s holdings in Salesforce were worth $902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Salesforce in the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC raised its stake in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the period. Swedbank AB lifted its position in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after acquiring an additional 931,566 shares during the period. Finally, State Street Corp increased its holdings in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’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 $298,055.16. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,194,689. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CRM. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. The Goldman Sachs Group upped their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group increased their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Loop Capital reduced their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Up 0.9 %

NYSE CRM 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 debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day moving average is $312.15 and its 200 day moving average is $310.95. The stock has a market capitalization of $277.33 billion, a PE ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35.

About Salesforce

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.