Paragon Private Wealth Management LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Paragon Private Wealth Management LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 8.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,262 shares of the CRM provider’s stock after purchasing an additional 397 shares during the period. Paragon Private Wealth Management LLC’s holdings in Salesforce were worth $1,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. Foundations Investment Advisors LLC raised its stake in Salesforce by 15.0% during the 4th 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 3rd quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC raised its stake in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares during the last quarter. Athena Investment Management purchased a new stake in Salesforce during the 4th quarter valued at approximately $236,000. Finally, Aljian Capital Management LLC raised its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.2 %

Shares of CRM opened at $282.74 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s fifty day simple moving average is $323.68 and its 200 day simple moving average is $308.84. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Insider Buying and Selling

In other news, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Canaccord Genuity Group cut their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note 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 assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.62.

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.