Woodmont Investment Counsel LLC Sells 178 Shares of Salesforce, Inc. (NYSE:CRM)

Woodmont Investment Counsel LLC decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,362 shares of the CRM provider’s stock after selling 178 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Salesforce were worth $6,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foundations Investment Advisors LLC increased its holdings in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce during the third quarter valued at approximately $1,215,000. Athena Investment Management bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $236,000. Highland Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC increased its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.9 %

Shares of NYSE CRM opened at $281.56 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The business’s fifty day moving average price is $313.51 and its 200-day moving average price is $310.36.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,762 shares of company stock worth $13,733,407. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CRM shares. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. DA Davidson decreased their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

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.