Moran Wealth Management LLC Sells 289 Shares of Salesforce, Inc. (NYSE:CRM)

Moran Wealth Management LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,263 shares of the CRM provider’s stock after selling 289 shares during the quarter. Moran Wealth Management LLC’s holdings in Salesforce were worth $7,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter worth approximately $31,000. Collier Financial bought a new position in shares of Salesforce in the fourth quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter worth approximately $27,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 3.7 %

NYSE CRM opened at $272.38 on Tuesday. The company’s 50-day moving average price is $322.41 and its 200-day moving average price is $308.93. 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 cap of $261.76 billion, a PE ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research analyst reports. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company lowered their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Finally, Morgan Stanley boosted their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

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.