Holderness Investments Co. Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Holderness Investments Co. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,644 shares of the CRM provider’s stock after buying an additional 258 shares during the period. Holderness Investments Co.’s holdings in Salesforce were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial purchased a new position in Salesforce in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $279.07 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $268.19 billion, a PE ratio of 45.90, a P/E/G ratio of 2.58 and a beta of 1.35. 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 business has a 50-day simple moving average of $314.23 and a 200-day simple moving average of $309.29.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DA Davidson decreased their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,256 shares of company stock valued at $19,692,357. 3.20% of the stock is currently owned by corporate insiders.

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.