RD Lewis Holdings Inc. Takes Position in Salesforce, Inc. (NYSE:CRM)

RD Lewis Holdings Inc. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel reports. The fund bought 1,691 shares of the CRM provider’s stock, valued at approximately $551,000.

Several other large investors have also added to or reduced their stakes in CRM. United Bank grew its stake in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares during the period. TrinityPoint Wealth LLC grew its stake in Salesforce by 5.6% during the third quarter. TrinityPoint Wealth LLC now owns 7,934 shares of the CRM provider’s stock worth $2,172,000 after purchasing an additional 424 shares during the period. Aljian Capital Management LLC grew its stake in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the period. GLOBALT Investments LLC GA grew its stake in Salesforce by 3.8% during the third quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock worth $361,000 after purchasing an additional 48 shares during the period. Finally, LMR Partners LLP acquired a new stake in Salesforce during the third quarter worth approximately $1,051,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $280.83 on Tuesday. The stock has a market cap of $269.87 billion, a PE ratio of 46.19, 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. 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 has a fifty day moving average of $317.05 and a 200-day moving average of $309.53.

Analyst Ratings Changes

Several research analysts have issued reports on CRM shares. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Macquarie cut their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Oppenheimer cut their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group increased their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $364.14.

About Salesforce

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.