GM Advisory Group LLC Has $466,000 Stake in Salesforce, Inc. (NYSE:CRM)

GM Advisory Group LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 73.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,393 shares of the CRM provider’s stock after buying an additional 590 shares during the period. GM Advisory Group LLC’s holdings in Salesforce were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the 4th quarter valued at about $32,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’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 sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 75,609 shares of company stock worth $24,920,821 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRM. Truist Financial restated a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Citigroup restated a “buy” rating on shares of Salesforce in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a report on Wednesday. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

Shares of CRM stock opened at $279.44 on Thursday. The company has a market capitalization of $268.54 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a 50-day simple moving average of $315.19 and a 200 day simple moving average of $309.50.

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.