Aire Advisors LLC Grows Stock Position in Salesforce, Inc. (NYSE:CRM)

Aire Advisors LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 975 shares of the CRM provider’s stock after purchasing an additional 57 shares during the period. Aire Advisors LLC’s holdings in Salesforce were worth $326,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRM. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given 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, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Performance

NYSE CRM opened at $286.26 on Tuesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. 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 $275.10 billion, a P/E ratio of 47.08, a PEG ratio of 2.58 and a beta of 1.35. The company’s 50-day simple moving average is $312.85 and its 200 day simple moving average is $310.64.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 652 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,541 shares of company stock valued at $11,599,604. 3.20% of the stock is currently owned by corporate insiders.

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.