1ST Source Bank Has $1.83 Million Stake in Salesforce, Inc. (NYSE:CRM)

1ST Source Bank trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,469 shares of the CRM provider’s stock after selling 50 shares during the period. 1ST Source Bank’s holdings in Salesforce were worth $1,828,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Arlington Trust Co LLC grew its stake in 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 buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE:CRM opened at $279.76 on Monday. The firm has a market capitalization of $268.85 billion, a P/E ratio of 46.01, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average of $318.03 and a 200-day moving average of $309.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Robert W. Baird reduced their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Citigroup restated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. The Goldman Sachs Group raised their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets reduced their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction 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 owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is 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.