Salesforce, Inc. (NYSE:CRM) Shares Purchased by Fortis Capital Management LLC

Fortis Capital Management LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 29.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,948 shares of the CRM provider’s stock after acquiring an additional 3,164 shares during the quarter. Fortis Capital Management LLC’s holdings in Salesforce were worth $4,663,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. United Bank grew its holdings in Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Salesforce by 40.1% in the third quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock worth $20,609,000 after purchasing an additional 21,540 shares in the last quarter. Biltmore Family Office LLC bought a new stake in Salesforce in the third quarter valued at about $204,000. Allen Capital Group LLC raised its stake in Salesforce by 25.1% during the third quarter. Allen Capital Group LLC now owns 1,022 shares of the CRM provider’s stock valued at $280,000 after buying an additional 205 shares in the last quarter. Finally, Nwam LLC bought a new position in Salesforce during the 3rd quarter worth approximately $1,152,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Robert W. Baird dropped their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. DA Davidson reduced their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group decreased their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value 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. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 in the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $281.56 on Friday. 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 business’s 50-day moving average price is $313.51 and its 200 day moving average price is $309.92. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35.

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.