Salesforce, Inc. (NYSE:CRM) Position Boosted by Proficio Capital Partners LLC

Proficio Capital Partners LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 70.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,791 shares of the CRM provider’s stock after purchasing an additional 1,153 shares during the period. Proficio Capital Partners LLC’s holdings in Salesforce were worth $933,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CRM. SPC Financial Inc. raised its stake in Salesforce by 59.6% during the fourth quarter. SPC Financial Inc. now owns 3,185 shares of the CRM provider’s stock worth $1,065,000 after acquiring an additional 1,190 shares during the period. Atria Investments Inc raised its stake in Salesforce by 12.1% during the fourth quarter. Atria Investments Inc now owns 88,528 shares of the CRM provider’s stock worth $29,598,000 after acquiring an additional 9,549 shares during the period. Assetmark Inc. raised its stake in Salesforce by 32.7% during the fourth quarter. Assetmark Inc. now owns 174,240 shares of the CRM provider’s stock worth $58,254,000 after acquiring an additional 42,903 shares during the period. Triad Wealth Partners LLC acquired a new stake in Salesforce during the fourth quarter worth about $565,000. Finally, Carrera Capital Advisors raised its stake in Salesforce by 9.7% during the fourth quarter. Carrera Capital Advisors now owns 837 shares of the CRM provider’s stock worth $280,000 after acquiring an additional 74 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s 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 sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,256 shares of company stock worth $19,692,357 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CRM shares. Macquarie reiterated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday. Royal Bank of Canada increased their price objective 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. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Up 0.9 %

Salesforce stock opened at $281.56 on Friday. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $313.51 and a 200-day moving average of $309.49.

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.