RKL Wealth Management LLC Purchases Shares of 693 Salesforce, Inc. (NYSE:CRM)

RKL Wealth Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel reports. The firm purchased 693 shares of the CRM provider’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter worth about $27,000. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was 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 owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Macquarie decreased their target price on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. Guggenheim restated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Finally, UBS Group upped their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Price Performance

Shares of CRM opened at $282.74 on Friday. The company has a market cap of $270.58 billion, a P/E ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. The stock has a fifty day moving average price of $323.68 and a 200 day moving average price of $308.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

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.