Atlanta Consulting Group Advisors LLC Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Atlanta Consulting Group Advisors LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 54.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,622 shares of the CRM provider’s stock after selling 3,126 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Salesforce were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CRM. Foundations Investment Advisors LLC grew its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in shares of Salesforce in the third quarter valued at $1,215,000. Athena Investment Management purchased a new position in shares of Salesforce in the fourth quarter valued at $236,000. Aljian Capital Management LLC grew its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Highland Capital Management LLC purchased a new position in shares of Salesforce in the fourth quarter valued at $4,321,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CRM. Canaccord Genuity Group cut their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. BMO Capital Markets lowered their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Finally, Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Two investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s 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 sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now 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. Over the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $279.76 on Monday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35. 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 stock’s 50-day simple moving average is $318.03 and its 200-day simple moving average is $309.36.

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.