Future Fund LLC Has $1.08 Million Stake in Salesforce, Inc. (NYSE:CRM)

Future Fund LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 47.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,216 shares of the CRM provider’s stock after selling 2,849 shares during the quarter. Salesforce comprises 3.1% of Future Fund LLC’s investment portfolio, making the stock its 15th largest position. Future Fund LLC’s holdings in Salesforce were worth $1,075,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Main Street Research LLC lifted its stake in shares of Salesforce by 8.0% during the fourth quarter. Main Street Research LLC now owns 7,280 shares of the CRM provider’s stock valued at $2,437,000 after acquiring an additional 537 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Salesforce by 27.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 708,260 shares of the CRM provider’s stock worth $236,793,000 after purchasing an additional 153,380 shares during the last quarter. Pettee Investors Inc. raised its holdings in Salesforce by 15.1% during the 4th quarter. Pettee Investors Inc. now owns 1,190 shares of the CRM provider’s stock worth $398,000 after purchasing an additional 156 shares during the last quarter. AlphaQuest LLC acquired a new position in Salesforce during the 4th quarter valued at about $813,000. Finally, Argentarii LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $419,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $282.74 on Monday. The stock has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a fifty day simple moving average of $323.68 and a 200 day simple moving average of $308.84. 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 other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robin L. Washington acquired 1,695 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Northland Securities reissued an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Piper Sandler cut their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.