Salesforce, Inc. (NYSE:CRM) Stake Reduced by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,638 shares of the CRM provider’s stock after selling 180 shares during the quarter. Salesforce comprises about 1.1% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Meridian Wealth Advisors LLC’s holdings in Salesforce were worth $6,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nvest Financial LLC raised its position in 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 acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the period. Sachetta LLC raised its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Insider Buying and Selling

In related news, Director Robin L. Washington acquired 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,256 shares of company stock valued at $19,692,357 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 0.9 %

Shares of CRM stock opened at $281.56 on Friday. The stock has a market cap of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a fifty day moving average price of $313.51 and a 200 day moving average price of $309.92. 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 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.