Salesforce, Inc. (NYSE:CRM) Shares Bought by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,346 shares of the CRM provider’s stock after purchasing an additional 172 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Salesforce were worth $450,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on CRM shares. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Piper Sandler reduced their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson reduced their price objective on shares of Salesforce from $300.00 to $275.00 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $364.14.

Insider Activity at Salesforce

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

Salesforce Stock Performance

Shares of CRM opened at $280.83 on Tuesday. The stock has a 50 day moving average price of $317.05 and a 200 day moving average price of $309.53. 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 company has a market capitalization of $269.87 billion, a price-to-earnings ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

About Salesforce

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.