MRP Capital Investments LLC Lowers Position in Salesforce, Inc. (NYSE:CRM)

MRP Capital Investments LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 33.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,006 shares of the CRM provider’s stock after selling 504 shares during the quarter. MRP Capital Investments LLC’s holdings in Salesforce were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank increased its position in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Salesforce by 7.6% during the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock valued at $65,161,000 after acquiring an additional 16,724 shares during the last quarter. Howe & Rusling Inc. purchased a new stake in shares of Salesforce during the third quarter valued at approximately $283,000. Advisors Asset Management Inc. increased its position in shares of Salesforce by 13.7% during the third quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock valued at $6,044,000 after acquiring an additional 2,665 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Salesforce by 1.0% during the third quarter. First Horizon Advisors Inc. now owns 18,830 shares of the CRM provider’s stock valued at $5,154,000 after acquiring an additional 181 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $279.07 on Friday. 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. The company has a market capitalization of $268.19 billion, a P/E ratio of 45.90, a P/E/G ratio of 2.58 and a beta of 1.35. The firm’s 50 day simple moving average is $314.23 and its two-hundred day simple moving average is $309.29.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,256 shares of company stock valued at $19,692,357. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on CRM shares. The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Scotiabank decreased their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a research note on Friday, January 17th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.