Sage Mountain Advisors LLC Has $1.55 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Sage Mountain Advisors LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 21.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,624 shares of the CRM provider’s stock after acquiring an additional 829 shares during the period. Sage Mountain Advisors LLC’s holdings in Salesforce were worth $1,546,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Salesforce by 1.8% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after purchasing an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 3.7 %

Salesforce stock opened at $272.38 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $261.76 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.35. The company’s 50 day simple moving average is $322.41 and its 200 day simple moving average is $308.93. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Guggenheim reiterated a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Macquarie lowered their price objective on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial restated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robin L. Washington bought 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Company insiders own 3.20% of the company’s stock.

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.