Salesforce, Inc. (NYSE:CRM) Shares Sold by Facet Wealth Inc.

Facet Wealth Inc. lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 48.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,537 shares of the CRM provider’s stock after selling 1,464 shares during the quarter. Facet Wealth Inc.’s holdings in Salesforce were worth $501,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its position in Salesforce by 15.0% in the fourth 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 position in Salesforce in the third quarter worth approximately $1,215,000. Athena Investment Management acquired a new position in Salesforce in the fourth quarter worth approximately $236,000. Aljian Capital Management LLC grew its position in Salesforce by 16.1% in the third 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. Finally, Highland Capital Management LLC acquired a new position in Salesforce in the fourth quarter worth approximately $4,321,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock worth $383,156,227 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $279.76 on Friday. The company has a market capitalization of $268.85 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $318.03 and its 200 day moving average price is $309.01.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Guggenheim restated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group raised their price objective 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. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, 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 research note on Thursday, February 27th. Two equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.