Stokes Family Office LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Stokes Family Office LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,660 shares of the CRM provider’s stock after selling 76 shares during the quarter. Stokes Family Office LLC’s holdings in Salesforce were worth $555,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. West Tower Group LLC purchased a new position in shares of Salesforce in the fourth quarter valued at $435,000. VSM Wealth Advisory LLC purchased a new position in shares of Salesforce in the fourth quarter valued at $45,000. Saiph Capital LLC boosted its stake in shares of Salesforce by 11.7% in the fourth quarter. Saiph Capital LLC now owns 2,068 shares of the CRM provider’s stock valued at $691,000 after purchasing an additional 217 shares during the period. Brooklyn FI LLC purchased a new position in shares of Salesforce in the fourth quarter valued at $2,921,000. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Salesforce in the fourth quarter valued at $30,382,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM opened at $278.98 on Wednesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50-day moving average of $316.13 and a two-hundred day moving average of $309.71. The stock has a market cap of $268.10 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. Finally, Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two equities 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $364.14.

Insiders Place Their Bets

In other news, Director G Mason Morfit sold 15,353 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,609 shares of company stock worth $24,920,821 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.