Ironwood Investment Counsel LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) 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
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.
Read Our Latest Research Report on Salesforce
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.
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