Salesforce, Inc. (NYSE:CRM) Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,050 shares of the CRM provider’s stock after selling 90 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Salesforce were worth $685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new position in Salesforce in the third quarter valued at $1,215,000. Athena Investment Management purchased a new position in Salesforce during the fourth quarter worth about $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $4,321,000. Finally, Geode Capital Management LLC grew its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CRM shares. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research note on Wednesday. Loop Capital lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday. Finally, Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,256 shares of company stock worth $19,692,357. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $279.07 on Friday. The company has a market capitalization of $268.19 billion, a P/E ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35. The company has a 50-day moving average of $314.23 and a 200-day moving average of $309.29. 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 1-year low of $212.00 and a 1-year 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.