Blue Barn Wealth LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Blue Barn Wealth LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The fund bought 696 shares of the CRM provider’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth $30,000. Asset Planning Inc purchased a new position in Salesforce in the fourth quarter worth $31,000. Collier Financial purchased a new stake in shares of Salesforce during the 4th quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter worth $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the topic of a number of research analyst reports. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Royal Bank of Canada upped their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.32.

Salesforce Price Performance

Salesforce stock opened at $292.05 on Thursday. The firm has a fifty day moving average of $325.91 and a 200-day moving average of $308.21. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $279.49 billion, a P/E ratio of 48.03, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Company 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.