Florida Financial Advisors LLC Acquires 1,030 Shares of Salesforce, Inc. (NYSE:CRM)

Florida Financial Advisors LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 109.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972 shares of the CRM provider’s stock after acquiring an additional 1,030 shares during the period. Florida Financial Advisors LLC’s holdings in Salesforce were worth $659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Bank boosted its holdings in Salesforce by 1.1% during the 3rd 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 last quarter. Penserra Capital Management LLC grew its position in Salesforce by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider’s stock worth $2,415,000 after purchasing an additional 105 shares in the last quarter. Larson Financial Group LLC increased its stake in Salesforce by 38.6% in the 3rd quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider’s stock valued at $1,168,000 after buying an additional 1,188 shares during the last quarter. Cahill Financial Advisors Inc. grew its holdings in shares of Salesforce by 26.4% in the third quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider’s stock valued at $278,000 after acquiring an additional 212 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company decreased their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,541 shares of company stock valued at $11,599,604. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Up 2.0 %

Shares of Salesforce stock opened at $286.26 on Tuesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $275.10 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $312.85 and its 200-day moving average is $310.64.

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.