Avory & Company LLC Sells 187 Shares of Salesforce, Inc. (NYSE:CRM)

Avory & Company LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 776 shares of the CRM provider’s stock after selling 187 shares during the quarter. Salesforce accounts for approximately 0.1% of Avory & Company LLC’s investment portfolio, making the stock its 24th biggest holding. Avory & Company LLC’s holdings in Salesforce were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth about $31,000. Collier Financial bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research analyst reports. DA Davidson cut their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Barclays boosted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Scotiabank reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $365.32.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Salesforce stock opened at $292.05 on Thursday. The business’s 50-day simple moving average is $325.91 and its 200 day simple moving average is $308.21. The stock has a market cap of $279.49 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce 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.