Moment Partners LLC Takes $488,000 Position in Salesforce, Inc. (NYSE:CRM)

Moment Partners LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,460 shares of the CRM provider’s stock, valued at approximately $488,000.

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

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Millham sold 3,937 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. This represents a 41.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,875 shares of company stock worth $13,580,649. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $280.93 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $269.97 billion, a P/E ratio of 46.21, 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 current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $311.35 and its 200 day moving average price is $310.74.

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.