GM Advisory Group LLC Has $466,000 Position in Salesforce, Inc. (NYSE:CRM)

GM Advisory Group LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,393 shares of the CRM provider’s stock after acquiring an additional 590 shares during the quarter. GM Advisory Group LLC’s holdings in Salesforce were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. Barclays upped their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value 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 $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director G Mason Morfit sold 15,353 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares in the company, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $279.44 on Thursday. The stock has a market capitalization of $268.54 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a 50 day moving average of $315.19 and a 200-day moving average of $309.50.

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.