May Barnhard Investments LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

May Barnhard Investments LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 928 shares of the CRM provider’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foundations Investment Advisors LLC increased its position in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in Salesforce in the third quarter worth $1,215,000. Athena Investment Management bought a new position in Salesforce during the fourth quarter valued at $236,000. Aljian Capital Management LLC increased its position in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Highland Capital Management LLC bought a new position in Salesforce during the fourth quarter valued at $4,321,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’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 transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 in the last three months. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $270.94 on Friday. The firm has a market capitalization of $260.37 billion, a P/E ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $319.09 and a 200 day moving average price of $308.60. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Analyst Ratings Changes

A number of research firms have weighed in on CRM. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company cut their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, 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.