Florida Financial Advisors LLC Has $659,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Florida Financial Advisors LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 109.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,972 shares of the CRM provider’s stock after purchasing an additional 1,030 shares during the period. Florida Financial Advisors LLC’s holdings in Salesforce were worth $659,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its position in shares of Salesforce by 15.0% in the fourth 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 in the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce during the 3rd quarter worth about $1,215,000. Athena Investment Management bought a new stake in shares of Salesforce during the fourth quarter worth approximately $236,000. Highland Capital Management LLC acquired a new position in Salesforce in the 4th quarter valued at $4,321,000. Finally, Geode Capital Management LLC increased its position in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the company’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 sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,541 shares of company stock valued at $11,599,604 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 2.0 %

Shares of CRM stock opened at $286.26 on Tuesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $275.10 billion, a price-to-earnings ratio of 47.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s fifty day moving average price is $312.85 and its 200 day moving average price is $310.64.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Oppenheimer reduced their price objective 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. DA Davidson decreased their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price 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, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.