Postrock Partners LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Postrock Partners LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 904 shares of the CRM provider’s stock, valued at approximately $302,000.

A number of other large investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter valued at about $27,000. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the fourth quarter valued at about $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 4.8 %

Shares of NYSE:CRM opened at $270.94 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $260.37 billion, a P/E ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. The business has a fifty day moving average of $319.09 and a two-hundred day moving average of $308.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Guggenheim reiterated a “sell” rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.62.

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.