FineMark National Bank & Trust Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

FineMark National Bank & Trust boosted its stake in Salesforce, Inc. (NYSE:CRM) by 81.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,606 shares of the CRM provider’s stock after buying an additional 719 shares during the quarter. FineMark National Bank & Trust’s holdings in Salesforce were worth $537,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. United Bank lifted its holdings 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 acquiring an additional 76 shares during the period. Fernbridge Capital Management LP raised its stake in shares of Salesforce by 19.2% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,072,422 shares of the CRM provider’s stock worth $293,533,000 after purchasing an additional 172,534 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Salesforce by 130.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 431,492 shares of the CRM provider’s stock worth $118,104,000 after buying an additional 244,420 shares during the last quarter. CreativeOne Wealth LLC grew its position in Salesforce by 36.6% during the third quarter. CreativeOne Wealth LLC now owns 9,935 shares of the CRM provider’s stock valued at $2,719,000 after buying an additional 2,664 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Salesforce during the third quarter worth about $147,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 2.7 %

CRM stock opened at $280.93 on Thursday. The company has a market capitalization of $269.97 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 one year low of $212.00 and a one year high of $369.00. The company’s 50 day moving average price is $311.35 and its two-hundred day moving average price is $310.74.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’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 directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,875 shares of company stock valued at $13,580,649. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

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.