Stokes Family Office LLC Sells 76 Shares of Salesforce, Inc. (NYSE:CRM)

Stokes Family Office LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,660 shares of the CRM provider’s stock after selling 76 shares during the quarter. Stokes Family Office LLC’s holdings in Salesforce were worth $555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. United Bank raised its position in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares in the last quarter. GLOBALT Investments LLC GA raised its position in Salesforce by 3.8% during the third quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock valued at $361,000 after acquiring an additional 48 shares in the last quarter. LMR Partners LLP bought a new position in shares of Salesforce in the third quarter valued at approximately $1,051,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Salesforce in the third quarter valued at approximately $213,000. Finally, Joseph Group Capital Management raised its position in shares of Salesforce by 35.0% in the third quarter. Joseph Group Capital Management now owns 9,696 shares of the CRM provider’s stock valued at $2,654,000 after purchasing an additional 2,515 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRM. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Citigroup reissued a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group lifted their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $364.14.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $278.98 on Wednesday. The stock has a market capitalization of $268.10 billion, a P/E ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 business has a 50-day moving average price of $316.13 and a two-hundred day moving average price of $309.71.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is currently owned by insiders.

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.