Investors Research Corp Has $718,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Investors Research Corp trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,148 shares of the CRM provider’s stock after selling 169 shares during the period. Investors Research Corp’s holdings in Salesforce were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Independent Advisor Alliance raised its position in Salesforce by 23.5% during the fourth quarter. Independent Advisor Alliance now owns 43,343 shares of the CRM provider’s stock valued at $14,491,000 after purchasing an additional 8,240 shares in the last quarter. Paragon Private Wealth Management LLC grew its stake in shares of Salesforce by 8.2% during the fourth quarter. Paragon Private Wealth Management LLC now owns 5,262 shares of the CRM provider’s stock worth $1,759,000 after buying an additional 397 shares during the last quarter. Meriwether Wealth & Planning LLC bought a new stake in shares of Salesforce during the fourth quarter worth $317,000. Tiemann Investment Advisors LLC grew its stake in shares of Salesforce by 1.9% during the fourth quarter. Tiemann Investment Advisors LLC now owns 9,876 shares of the CRM provider’s stock worth $3,302,000 after buying an additional 186 shares during the last quarter. Finally, Gallagher Capital Advisors LLC bought a new stake in shares of Salesforce during the fourth quarter worth $1,554,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at $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 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRM. Jefferies Financial Group boosted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Macquarie dropped their price objective on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Price Performance

Shares of Salesforce stock opened at $282.74 on Monday. The company’s fifty day simple moving average is $323.68 and its two-hundred day simple moving average is $308.84. The firm 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. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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.