Wealth Architects LLC Reduces Position in Salesforce, Inc. (NYSE:CRM)

Wealth Architects LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 28.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 873 shares of the CRM provider’s stock after selling 351 shares during the quarter. Wealth Architects LLC’s holdings in Salesforce were worth $292,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CRM. United Bank boosted its holdings in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares during the last quarter. Accredited Investors Inc. boosted its holdings in Salesforce by 74.2% in the third quarter. Accredited Investors Inc. now owns 1,618 shares of the CRM provider’s stock valued at $443,000 after acquiring an additional 689 shares during the last quarter. GoalVest Advisory LLC boosted its holdings in Salesforce by 7.2% in the third quarter. GoalVest Advisory LLC now owns 951 shares of the CRM provider’s stock valued at $260,000 after acquiring an additional 64 shares during the last quarter. Atlanta Consulting Group Advisors LLC boosted its holdings in Salesforce by 111.6% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 5,748 shares of the CRM provider’s stock valued at $1,573,000 after acquiring an additional 3,032 shares during the last quarter. Finally, Concord Asset Management LLC VA boosted its holdings in Salesforce by 17.4% in the third quarter. Concord Asset Management LLC VA now owns 6,894 shares of the CRM provider’s stock valued at $1,887,000 after acquiring an additional 1,024 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Scotiabank reduced their price objective on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 27th. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given 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 an average rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $279.76 on Monday. The stock has a fifty day moving average price of $318.03 and a two-hundred day moving average price of $309.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $268.85 billion, a P/E ratio of 46.01, 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.

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.