Salesforce, Inc. (NYSE:CRM) Shares Purchased by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 834 shares of the CRM provider’s stock after acquiring an additional 42 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Salesforce were worth $279,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC increased its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc bought a new position in Salesforce during the 4th quarter valued at $31,000. Collier Financial bought a new position in Salesforce during the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter worth $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 0.9 %

Shares of CRM opened at $281.56 on Friday. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business’s 50 day simple moving average is $313.51 and its 200-day simple moving average is $309.92.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. 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 three months. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer decreased their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Finally, Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.