Larson Financial Group LLC Has $1.25 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Larson Financial Group LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,749 shares of the CRM provider’s stock after selling 520 shares during the period. Larson Financial Group LLC’s holdings in Salesforce were worth $1,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Foundations Investment Advisors LLC grew its stake in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the 3rd quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC grew its stake in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Athena Investment Management purchased a new position in Salesforce during the 4th quarter valued at about $236,000. Finally, Aljian Capital Management LLC grew its stake in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 1.2 %

Shares of CRM stock opened at $282.74 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market cap of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a 50 day moving average of $323.68 and a 200-day moving average of $308.50. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and set a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. BMO Capital Markets lowered their target price on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup reissued a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $365.62.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate 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.