Edgestream Partners L.P. Purchases Shares of 4,415 Salesforce, Inc. (NYSE:CRM)

Edgestream Partners L.P. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,415 shares of the CRM provider’s stock, valued at approximately $1,476,000.

Other hedge funds also recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce during the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC lifted its stake in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce during the 4th quarter worth about $236,000. Finally, Aljian Capital Management LLC lifted its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRM shares. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Wells Fargo & Company dropped their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, BMO Capital Markets dropped their price objective on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company 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 issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Buying and Selling

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

Salesforce Stock Down 3.7 %

NYSE:CRM opened at $272.38 on Tuesday. The firm’s 50 day simple moving average is $322.41 and its 200 day simple moving average is $308.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $261.76 billion, a PE ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.35.

About Salesforce

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.