Wayfinding Financial LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Wayfinding Financial LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,771 shares of the CRM provider’s stock, valued at approximately $592,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC grew 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 buying an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,256 shares of company stock worth $19,692,357. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Salesforce stock opened at $279.07 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $268.19 billion, a P/E ratio of 45.90, a price-to-earnings-growth 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. The company’s 50-day moving average is $314.23 and its 200 day moving average is $309.29.

About Salesforce

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.