Greenwich Wealth Management LLC Sells 142 Shares of Salesforce, Inc. (NYSE:CRM)

Greenwich Wealth Management LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,529 shares of the CRM provider’s stock after selling 142 shares during the period. Greenwich Wealth Management LLC’s holdings in Salesforce were worth $846,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce during the third quarter worth $1,215,000. Athena Investment Management acquired a new stake in shares of Salesforce during the fourth quarter worth $236,000. Aljian Capital Management LLC raised its holdings in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, Highland Capital Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $4,321,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 3.0 %

CRM opened at $279.76 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35. The company’s 50 day moving average price is $318.03 and its two-hundred day moving average price is $309.01.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRM shares. Macquarie lowered their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Citigroup reissued a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Two 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce 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.