900 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Coordinated Financial Services Inc.

Coordinated Financial Services Inc. acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 900 shares of the CRM provider’s stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. M&G PLC lifted its holdings in Salesforce by 97.3% during the third quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock valued at $3,911,000 after purchasing an additional 7,038 shares in the last quarter. Consolidated Planning Corp purchased a new position in Salesforce during the third quarter valued at approximately $206,000. ABLE Financial Group LLC purchased a new position in Salesforce during the third quarter valued at approximately $213,000. Source Financial Advisors LLC purchased a new position in Salesforce during the third quarter valued at approximately $222,000. Finally, CWA Asset Management Group LLC purchased a new position in Salesforce during the third quarter valued at approximately $3,769,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the 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 sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

CRM stock opened at $282.74 on Friday. The firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. The firm has a 50-day simple moving average of $323.68 and a two-hundred day simple moving average of $308.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Ratings Changes

Several brokerages have weighed in on CRM. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Guggenheim reissued a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup reissued a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.