Investors Research Corp Lowers Stake in Salesforce, Inc. (NYSE:CRM)

Investors Research Corp cut its position in Salesforce, Inc. (NYSE:CRM) by 7.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,148 shares of the CRM provider’s stock after selling 169 shares during the quarter. Investors Research Corp’s holdings in Salesforce were worth $718,000 as of its most recent SEC filing.

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

Salesforce Trading Down 1.2 %

Shares of CRM opened at $282.74 on Monday. The company’s fifty day moving average is $323.68 and its 200 day moving average is $308.84. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.50, 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 quick ratio of 1.11 and a current ratio of 1.11.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer decreased their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Macquarie decreased their price objective on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 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.