Salesforce, Inc. (NYSE:CRM) Stock Holdings Raised by BluePointe Capital Management LLC

BluePointe Capital Management LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 19.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,066 shares of the CRM provider’s stock after purchasing an additional 171 shares during the period. BluePointe Capital Management LLC’s holdings in Salesforce were worth $357,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CRM. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC raised its holdings in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 0.3 %

Shares of CRM opened at $279.44 on Thursday. The business’s 50-day moving average price is $315.19 and its 200 day moving average price is $309.50. 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 capitalization of $268.54 billion, a P/E ratio of 45.96, 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.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson lowered their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Loop Capital lowered their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was 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 in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % 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 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

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.