Interchange Capital Partners LLC Sells 314 Shares of Salesforce, Inc. (NYSE:CRM)

Interchange Capital Partners LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,066 shares of the CRM provider’s stock after selling 314 shares during the period. Interchange Capital Partners LLC’s holdings in Salesforce were worth $1,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nvest Financial LLC lifted its stake in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its position in Salesforce by 0.3% during the 4th 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 grew its stake 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 purchasing an additional 31 shares during the last quarter. Sachetta LLC grew its position in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew 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 worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.9 %

Shares of CRM stock opened at $281.56 on Monday. 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 quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $313.51 and its two-hundred day moving average is $310.36. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Macquarie reissued a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday. Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. DA Davidson lowered their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce 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 given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred 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 transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director Robin L. Washington acquired 1,695 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 42,762 shares of company stock worth $13,733,407 over the last three months. 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.