Salesforce, Inc. (NYSE:CRM) Stock Holdings Trimmed by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 13.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,532 shares of the CRM provider’s stock after selling 1,784 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Salesforce were worth $3,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC lifted its stake in 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 last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter worth about $31,000. Collier Financial acquired a new position in shares of Salesforce in the 4th quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRM. Wells Fargo & Company cut 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. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research 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 for the company in a report on Friday, December 13th. Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, BMO Capital Markets reduced their target price on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Two research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $364.14.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the transaction, the chief operating officer now owns 1,662 shares in the company, valued at $566,210.16. This represents a 90.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,609 shares of company stock valued at $24,920,821 in the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 0.6 %

Shares of NYSE:CRM opened at $278.98 on Wednesday. The firm has a 50 day simple moving average of $316.13 and a 200 day simple moving average of $309.71. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. 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 company has a market cap of $268.10 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.