Heritage Wealth Advisors Has $283,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Heritage Wealth Advisors lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 845 shares of the CRM provider’s stock after selling 229 shares during the quarter. Heritage Wealth Advisors’ holdings in Salesforce were worth $283,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRM. Raymond James Financial Inc. acquired a new position in shares of Salesforce in the 4th quarter valued at $1,173,564,000. Jennison Associates LLC lifted its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares in the last quarter. Swedbank AB grew its stake in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after acquiring an additional 931,566 shares in the last quarter. Finally, State Street Corp raised its position in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRM shares. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Finally, Canaccord Genuity Group lowered their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Performance

NYSE:CRM opened at $288.59 on Wednesday. The stock has a 50 day simple moving average of $312.15 and a 200 day simple moving average of $310.95. The stock has a market cap of $277.33 billion, a P/E ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year 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.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,194,689 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.