Farther Finance Advisors LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Farther Finance Advisors LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 14.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,275 shares of the CRM provider’s stock after acquiring an additional 2,324 shares during the quarter. Farther Finance Advisors LLC’s holdings in Salesforce were worth $6,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Foundations Investment Advisors LLC increased its position 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 during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce during the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC raised its position in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares during the period. Athena Investment Management purchased a new position in Salesforce in the fourth quarter valued at about $236,000. Finally, Aljian Capital Management LLC grew its holdings in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $277.40 on Wednesday. The company has a 50-day simple moving average of $321.27 and a two-hundred day simple moving average of $309.03. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $266.58 billion, a price-to-earnings ratio of 45.63, a PEG 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.

Analyst Upgrades and Downgrades

Several research firms have commented on CRM. Barclays upped their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank reduced their price target on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 27th. Finally, Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce 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.