Midland Wealth Advisors LLC Has $965,000 Position in Salesforce, Inc. (NYSE:CRM)

Midland Wealth Advisors LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,887 shares of the CRM provider’s stock after selling 118 shares during the period. Midland Wealth Advisors LLC’s holdings in Salesforce were worth $965,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter worth approximately $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter worth $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter worth about $32,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. 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 research note on Thursday, February 27th. The Goldman Sachs Group raised their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Oppenheimer reduced 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. Finally, 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 report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Trading Down 1.2 %

CRM stock opened at $282.74 on Monday. 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 twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $270.58 billion, a P/E ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. The business has a fifty day moving average of $323.68 and a 200-day moving average of $308.84.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s 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. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by insiders.

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.