Postrock Partners LLC Buys New Position in Salesforce, Inc. (NYSE:CRM)

Postrock Partners LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 904 shares of the CRM provider’s stock, valued at approximately $302,000.

Several other hedge funds have also made changes to their positions in CRM. Nvest Financial LLC increased its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its stake in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $270.94 on Friday. The stock has a market capitalization of $260.37 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. The business’s 50 day moving average is $319.09 and its two-hundred day moving average is $308.60. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

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.