GC Wealth Management RIA LLC Has $71.23 Million Stake in Salesforce, Inc. (NYSE:CRM)

GC Wealth Management RIA LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 11.4% in the fourth quarter, HoldingsChannel reports. The fund owned 213,062 shares of the CRM provider’s stock after selling 27,435 shares during the period. Salesforce makes up about 12.5% of GC Wealth Management RIA LLC’s portfolio, making the stock its biggest position. GC Wealth Management RIA LLC’s holdings in Salesforce were worth $71,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Nvest Financial LLC grew its stake in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD grew its stake in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of 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 buying an additional 31 shares during the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

NYSE:CRM opened at $272.38 on Tuesday. 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 business’s 50-day simple moving average is $322.41 and its two-hundred day simple moving average is $308.93. The stock 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. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRM shares. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. Jefferies Financial Group upped their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Finally, Scotiabank lowered their price objective on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.