Sciencast Management LP Acquires Shares of 783 Salesforce, Inc. (NYSE:CRM)

Sciencast Management LP acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 783 shares of the CRM provider’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial acquired a new stake in Salesforce in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,762 shares of company stock valued at $13,733,407. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Canaccord Genuity Group lowered their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Performance

NYSE CRM opened at $281.56 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $313.51 and its two-hundred day moving average price is $310.36. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm 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 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.