Evoke Wealth LLC Purchases 617 Shares of Salesforce, Inc. (NYSE:CRM)

Evoke Wealth LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,469 shares of the CRM provider’s stock after purchasing an additional 617 shares during the quarter. Evoke Wealth LLC’s holdings in Salesforce were worth $1,831,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $32,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRM shares. BMO Capital Markets decreased their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Loop Capital cut their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley boosted their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $364.14.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value 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 approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,609 shares of company stock valued at $24,920,821 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $278.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $316.13 and its two-hundred day moving average price is $309.71. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $268.10 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35.

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.