Ironwood Investment Counsel LLC Sells 42 Shares of Salesforce, Inc. (NYSE:CRM)

Ironwood Investment Counsel LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 3,324 shares of the CRM provider’s stock after selling 42 shares during the period. Ironwood Investment Counsel LLC’s holdings in Salesforce were worth $1,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Nvest Financial LLC increased its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC increased its position in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $270.94 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 has a market capitalization of $260.37 billion, a PE ratio of 44.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm’s 50 day simple moving average is $319.09 and its 200 day simple moving average is $308.60.

Insider Buying and Selling

In other Salesforce news, Director Robin L. Washington bought 1,695 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Scotiabank cut their price target on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 27th. DA Davidson lowered their price objective 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. Finally, Northland Securities reissued an “outperform” rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.