MRP Capital Investments LLC Sells 504 Shares of Salesforce, Inc. (NYSE:CRM)

MRP Capital Investments LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 33.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,006 shares of the CRM provider’s stock after selling 504 shares during the quarter. MRP Capital Investments LLC’s holdings in Salesforce were worth $336,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CRM. United Bank boosted its position in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Salesforce by 7.6% in the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock valued at $65,161,000 after acquiring an additional 16,724 shares during the period. Howe & Rusling Inc. bought a new stake in shares of Salesforce in the third quarter valued at approximately $283,000. Advisors Asset Management Inc. boosted its position in shares of Salesforce by 13.7% in the third quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock valued at $6,044,000 after acquiring an additional 2,665 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Salesforce by 1.0% in the third quarter. First Horizon Advisors Inc. now owns 18,830 shares of the CRM provider’s stock valued at $5,154,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group dropped their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. Finally, Northland Securities reiterated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Price Performance

Shares of CRM opened at $279.07 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business has a 50-day simple moving average of $314.23 and a two-hundred day simple moving average of $309.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $268.19 billion, a PE ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’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 $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,256 shares of company stock worth $19,692,357. Insiders own 3.20% of the company’s stock.

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.