Woodmont Investment Counsel LLC Sells 178 Shares of Salesforce, Inc. (NYSE:CRM)

Woodmont Investment Counsel LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,362 shares of the CRM provider’s stock after selling 178 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Salesforce were worth $6,139,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC increased its position 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 valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter valued at about $32,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,762 shares of company stock worth $13,733,407 in the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 0.9 %

CRM opened at $281.56 on Monday. The stock has a market cap of $270.58 billion, a PE ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. 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 business has a 50 day moving average of $313.51 and a 200-day moving average of $310.36. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, The Goldman Sachs Group increased 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 analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently 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.