Greenwich Wealth Management LLC Sells 142 Shares of Salesforce, Inc. (NYSE:CRM)

Greenwich Wealth Management LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,529 shares of the CRM provider’s stock after selling 142 shares during the period. Greenwich Wealth Management LLC’s holdings in Salesforce were worth $846,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC raised its position 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 acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc bought a new stake in Salesforce in the fourth quarter worth about $31,000. Finally, Collier Financial bought a new stake in Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Up 3.0 %

Shares of CRM opened at $279.76 on Friday. The firm has a market cap of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG 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. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a 50 day moving average price of $318.03 and a 200-day moving average price of $309.01.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.