GS Investments Inc. Cuts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

GS Investments Inc. reduced its position in Salesforce, Inc. (NYSE:CRM) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,694 shares of the CRM provider’s stock after selling 340 shares during the period. Salesforce makes up about 1.8% of GS Investments Inc.’s investment portfolio, making the stock its 23rd largest position. GS Investments Inc.’s holdings in Salesforce were worth $3,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at $27,000. Arlington Trust Co LLC grew its stake in shares of 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 purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial bought a new stake in Salesforce in the 4th quarter worth approximately $32,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 0.3 %

NYSE:CRM opened at $279.44 on Thursday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock’s fifty day moving average is $315.19 and its two-hundred day moving average is $309.50. The stock has a market capitalization of $268.54 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling

In other Salesforce news, Director G Mason Morfit sold 15,353 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares in the company, valued at $987,087,239.95. This represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,609 shares of company stock valued at $24,920,821. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reduced their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.