Fiduciary Group LLC Has $2.05 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Fiduciary Group LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,137 shares of the CRM provider’s stock after selling 657 shares during the quarter. Fiduciary Group LLC’s holdings in Salesforce were worth $2,052,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce during the 3rd quarter worth about $1,215,000. Athena Investment Management acquired a new stake in shares of Salesforce during the 4th quarter worth about $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $4,321,000. Finally, Geode Capital Management LLC raised its stake in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Loop Capital dropped their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday. They issued an “equal weight” rating and a $311.00 price objective for the company. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s 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 sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the sale, the chief operating officer now directly owns 1,662 shares in the company, valued at approximately $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Up 0.3 %

Shares of NYSE CRM opened at $279.44 on Thursday. The firm has a 50 day moving average price of $315.19 and a two-hundred day moving average price of $309.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $268.54 billion, a P/E ratio of 45.96, a price-to-earnings-growth 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.