Plancorp LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Plancorp LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,625 shares of the CRM provider’s stock after acquiring an additional 537 shares during the quarter. Plancorp LLC’s holdings in Salesforce were worth $1,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. United Bank lifted its stake in Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares during the period. Advisors Asset Management Inc. lifted its stake in Salesforce by 13.7% in the third quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock worth $6,044,000 after acquiring an additional 2,665 shares during the period. Eagle Asset Management Inc. lifted its stake in Salesforce by 40.1% in the third quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock worth $20,609,000 after acquiring an additional 21,540 shares during the period. AlphaCore Capital LLC lifted its position in Salesforce by 15.6% during the third quarter. AlphaCore Capital LLC now owns 6,397 shares of the CRM provider’s stock valued at $1,753,000 after buying an additional 864 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of Salesforce by 3.0% in the 3rd quarter. Raymond James Trust N.A. now owns 50,667 shares of the CRM provider’s stock worth $13,868,000 after purchasing an additional 1,473 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Performance

NYSE CRM opened at $281.56 on Friday. The company has a market cap of $270.58 billion, a P/E ratio of 46.31, 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’s 50 day moving average price is $313.51 and its 200-day moving average price is $309.49. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,256 shares of company stock valued at $19,692,357. 3.20% of the stock is currently owned by 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.