King Luther Capital Management Corp Acquires 10,191 Shares of Salesforce, Inc. (NYSE:CRM)

King Luther Capital Management Corp grew its holdings in Salesforce, Inc. (NYSE:CRM) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 255,694 shares of the CRM provider’s stock after acquiring an additional 10,191 shares during the quarter. King Luther Capital Management Corp’s holdings in Salesforce were worth $85,486,000 as of its most recent SEC filing.

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

Salesforce Trading Down 3.7 %

Shares of CRM opened at $272.38 on Tuesday. The stock has a fifty day moving average of $322.41 and a two-hundred day moving average of $308.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $261.76 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. 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 in the last ninety days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRM shares. Macquarie dropped their target price on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.