Sound View Wealth Advisors Group LLC Sells 5,142 Shares of Salesforce, Inc. (NYSE:CRM)

Sound View Wealth Advisors Group LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 41.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,344 shares of the CRM provider’s stock after selling 5,142 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Salesforce were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at $27,000. Arlington Trust Co LLC lifted its position 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 valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Piper Sandler dropped their price objective on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Insiders Place Their Bets

In other news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $282.74 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a P/E/G 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. The stock has a fifty day moving average of $323.68 and a 200 day moving average of $308.50.

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.