Hillsdale Investment Management Inc. Sells 310 Shares of Salesforce, Inc. (NYSE:CRM)

Hillsdale Investment Management Inc. decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,849 shares of the CRM provider’s stock after selling 310 shares during the period. Hillsdale Investment Management Inc.’s holdings in Salesforce were worth $1,621,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Foundations Investment Advisors LLC boosted 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 purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce in the third quarter valued at approximately $1,215,000. Athena Investment Management purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $236,000. Highland Capital Management LLC bought a new stake in Salesforce during the fourth quarter worth $4,321,000. Finally, Geode Capital Management LLC lifted its stake in Salesforce by 1.3% during 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 acquiring an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. DA Davidson decreased 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. Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a report on Wednesday. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.9 %

Salesforce stock opened at $281.56 on Friday. The stock has a market cap of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm’s fifty day moving average price is $313.51 and its 200-day moving average price is $309.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock worth $19,692,357 in the last ninety days. 3.20% of the stock is currently owned by insiders.

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.