Meridian Wealth Advisors LLC Sells 180 Shares of Salesforce, Inc. (NYSE:CRM)

Meridian Wealth Advisors LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,638 shares of the CRM provider’s stock after selling 180 shares during the quarter. Salesforce comprises 1.1% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Meridian Wealth Advisors LLC’s holdings in Salesforce were worth $6,566,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at about $31,000. Collier Financial acquired a new stake in Salesforce in the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter worth about $27,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 0.9 %

CRM stock opened at $281.56 on Friday. 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 firm has a market capitalization of $270.58 billion, a PE ratio of 46.31, a PEG 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 business’s 50 day simple moving average is $313.51 and its 200 day simple moving average is $309.92.

Insider Buying and Selling

In related news, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the transaction, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, 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. In the last three months, insiders have sold 60,256 shares of company stock valued at $19,692,357. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on CRM shares. Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday. Scotiabank lowered their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer decreased their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial restated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.74.

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.