Salesforce, Inc. (NYSE:CRM) Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,757 shares of the CRM provider’s stock after purchasing an additional 4,623 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Salesforce were worth $27,334,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during 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 purchased a new position in Salesforce in 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 position in Salesforce in the fourth quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robin L. Washington purchased 1,695 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74 % 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. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Macquarie cut their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Stock Performance

Salesforce stock opened at $277.40 on Wednesday. The stock’s 50 day moving average price is $321.27 and its 200 day moving average price is $309.03. The firm has a market capitalization of $266.58 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

About Salesforce

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.