Gallagher Capital Advisors LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Gallagher Capital Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel reports. The fund purchased 4,647 shares of the CRM provider’s stock, valued at approximately $1,554,000. Salesforce accounts for 1.1% of Gallagher Capital Advisors LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp grew its position in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC lifted its stake in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after buying an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.2 %

Shares of NYSE 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 stock has a market capitalization of $270.58 billion, a PE ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a fifty day simple moving average of $323.68 and a 200-day simple moving average of $308.84.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group raised their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp raised 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. Finally, BMO Capital Markets lowered their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Activity at Salesforce

In other Salesforce news, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 in the last three months. 3.20% of the stock is owned by company insiders.

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.