Guardian Partners Inc. Takes Position in Salesforce, Inc. (NYSE:CRM)

Guardian Partners Inc. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 705 shares of the CRM provider’s stock, valued at approximately $230,000.

Other hedge funds have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC grew 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 period. Compass Financial Services Inc purchased a new stake in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the fourth quarter worth $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.9 %

NYSE CRM opened at $281.56 on Monday. The stock’s 50-day moving average price is $313.51 and its 200-day moving average price is $310.36. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization 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.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,762 shares of company stock valued at $13,733,407 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research note on Wednesday. Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

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.