Larson Financial Group LLC Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

Larson Financial Group LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,749 shares of the CRM provider’s stock after selling 520 shares during the period. Larson Financial Group LLC’s holdings in Salesforce were worth $1,253,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $282.74 on Friday. 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’s 50-day moving average price is $323.68 and its two-hundred day moving average price is $308.50. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin L. Washington purchased 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRM shares. Robert W. Baird dropped their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Scotiabank decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a report on Thursday, February 27th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Oppenheimer decreased their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.