Runnymede Capital Advisors Inc. Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Runnymede Capital Advisors Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,556 shares of the CRM provider’s stock, valued at approximately $855,000. Salesforce comprises approximately 0.7% of Runnymede Capital Advisors Inc.’s holdings, making the stock its 26th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nvest Financial LLC raised its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC raised its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC raised its holdings in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 in the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Guggenheim reissued a “sell” rating and set a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Oppenheimer dropped their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Performance

Shares of CRM opened at $281.56 on Friday. The firm’s 50 day moving average is $313.51 and its 200-day moving average is $309.49. The stock has a market capitalization 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 current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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.