Meridian Wealth Partners LLC Acquires 42 Shares of Salesforce, Inc. (NYSE:CRM)

Meridian Wealth Partners LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 834 shares of the CRM provider’s stock after purchasing an additional 42 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Salesforce were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Blueprint Investment Partners LLC grew its position in Salesforce by 35.4% in the fourth quarter. Blueprint Investment Partners LLC now owns 3,926 shares of the CRM provider’s stock valued at $1,313,000 after purchasing an additional 1,026 shares in the last quarter. Mosley Wealth Management lifted its stake in Salesforce by 7.6% in the fourth quarter. Mosley Wealth Management now owns 944 shares of the CRM provider’s stock valued at $334,000 after acquiring an additional 67 shares during the last quarter. Guardian Partners Inc. acquired a new stake in Salesforce in the fourth quarter valued at $230,000. Fortis Capital Management LLC lifted its stake in Salesforce by 29.3% in the fourth quarter. Fortis Capital Management LLC now owns 13,948 shares of the CRM provider’s stock valued at $4,663,000 after acquiring an additional 3,164 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Salesforce in the fourth quarter valued at $121,868,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.9 %

Shares of NYSE CRM opened at $281.56 on Friday. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50 day moving average price is $313.51 and its 200-day moving average price is $309.92.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the transaction, the chief operating officer now owns 1,662 shares in the company, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,256 shares of company stock worth $19,692,357. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. DA Davidson cut their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Macquarie restated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday. Finally, KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

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.