Xponance Inc. Has $68.12 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Xponance Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 203,739 shares of the CRM provider’s stock after selling 1,551 shares during the quarter. Salesforce comprises 0.6% of Xponance Inc.’s investment portfolio, making the stock its 19th largest position. Xponance Inc.’s holdings in Salesforce were worth $68,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. United Bank boosted its holdings in shares of Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in Salesforce by 5.6% during the third quarter. TrinityPoint Wealth LLC now owns 7,934 shares of the CRM provider’s stock worth $2,172,000 after acquiring an additional 424 shares in the last quarter. Aljian Capital Management LLC raised its stake in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. GLOBALT Investments LLC GA raised its stake in Salesforce by 3.8% during the third quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock worth $361,000 after acquiring an additional 48 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Salesforce during the third quarter worth about $1,051,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of CRM opened at $280.83 on Tuesday. The firm has a market capitalization of $269.87 billion, a PE ratio of 46.19, a PEG ratio of 2.58 and a beta of 1.35. The company’s 50-day moving average is $317.05 and its 200-day moving average is $309.53. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRM. Truist Financial restated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets lowered their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $364.14.

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.