Lee Danner & Bass Inc. Sells 700 Shares of Salesforce, Inc. (NYSE:CRM)

Lee Danner & Bass Inc. cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 57.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 515 shares of the CRM provider’s stock after selling 700 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Salesforce were worth $172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC increased its holdings in shares of 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 last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter worth about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRM has been the topic of several research reports. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley boosted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $281.56 on Friday. The company has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $313.51 and a 200 day moving average of $309.49.

Insider Buying and Selling

In related news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,256 shares of company stock valued at $19,692,357 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.