Cedar Wealth Management LLC Has $63,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Cedar Wealth Management LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 89.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187 shares of the CRM provider’s stock after selling 1,529 shares during the quarter. Cedar Wealth Management LLC’s holdings in Salesforce were worth $63,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. State Street Corp lifted its holdings in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 60,256 shares of company stock worth $19,692,357. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday. Guggenheim restated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Price Performance

Shares of Salesforce stock opened at $281.56 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 firm has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business’s 50-day moving average price is $313.51 and its 200-day moving average price is $309.92. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

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.