Plancorp LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Plancorp LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,625 shares of the CRM provider’s stock after acquiring an additional 537 shares during the quarter. Plancorp LLC’s holdings in Salesforce were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. United Bank raised its stake in shares of Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Salesforce by 13.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock worth $6,044,000 after purchasing an additional 2,665 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Salesforce by 40.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock worth $20,609,000 after purchasing an additional 21,540 shares during the period. AlphaCore Capital LLC raised its stake in shares of Salesforce by 15.6% during the 3rd quarter. AlphaCore Capital LLC now owns 6,397 shares of the CRM provider’s stock worth $1,753,000 after purchasing an additional 864 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of Salesforce by 3.0% during the 3rd quarter. Raymond James Trust N.A. now owns 50,667 shares of the CRM provider’s stock worth $13,868,000 after purchasing an additional 1,473 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday. Finally, Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $362.74.

Insiders Place Their Bets

In other news, COO Brian Millham sold 16,487 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,256 shares of company stock valued at $19,692,357 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 0.9 %

Shares of CRM opened at $281.56 on Friday. The firm has a market cap of $270.58 billion, a P/E ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The stock has a 50 day simple moving average of $313.51 and a two-hundred day simple moving average of $309.49. 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 1 year low of $212.00 and a 1 year high of $369.00.

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.