Clare Market Investments LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Clare Market Investments LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,652 shares of the CRM provider’s stock, valued at approximately $1,890,000.

Other hedge funds have also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Athena Investment Management purchased a new position in Salesforce during the fourth quarter worth about $236,000. Finally, Aljian Capital Management LLC boosted its holdings in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 1.2 %

Shares of CRM opened at $282.74 on Monday. The stock has a market capitalization of $270.58 billion, a P/E ratio of 46.50, 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 firm has a fifty day simple moving average of $323.68 and a two-hundred day simple moving average of $308.84. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRM. Jefferies Financial Group boosted their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Oppenheimer dropped their target price 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. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $365.62.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 in the last quarter. Company insiders own 3.20% of the company’s stock.

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.