Morey & Quinn Wealth Partners LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Morey & Quinn Wealth Partners LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,794 shares of the CRM provider’s stock, valued at approximately $934,000. Salesforce makes up about 0.8% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Nvest Financial LLC lifted its stake in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD increased its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC lifted its holdings in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC grew its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of Salesforce stock opened at $288.59 on Wednesday. The company has a 50 day moving average of $312.15 and a 200-day moving average of $310.95. The company has a market cap of $277.33 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Analysts Set New Price Targets

A number of research firms have weighed in on CRM. Stifel Nicolaus reduced their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Scotiabank decreased their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Guggenheim restated a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Robert W. Baird lowered their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the firm’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 sale, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,660 shares of company stock valued at $14,194,689. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Company 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.