Viawealth LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Viawealth LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,111 shares of the CRM provider’s stock after purchasing an additional 405 shares during the quarter. Salesforce makes up about 1.0% of Viawealth LLC’s portfolio, making the stock its 25th biggest holding. Viawealth LLC’s holdings in Salesforce were worth $1,709,000 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 position in Salesforce in the third quarter valued at about $27,000. Arlington Trust Co LLC lifted its position 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 last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,609 shares of company stock worth $24,920,821. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.3 %

CRM stock opened at $279.44 on Thursday. The company has a current ratio of 1.11, a quick 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’s 50 day moving average is $315.19 and its two-hundred day moving average is $309.50. The stock has a market cap of $268.54 billion, a P/E ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Oppenheimer cut their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Guggenheim reiterated a “sell” rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.