Glenview Trust co Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Glenview Trust co lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,841 shares of the CRM provider’s stock after purchasing an additional 6,852 shares during the period. Glenview Trust co’s holdings in Salesforce were worth $18,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial purchased a new position in Salesforce during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CRM shares. Canaccord Genuity Group cut their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. The Goldman Sachs Group boosted their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 3.0 %

Shares of CRM opened at $279.76 on Friday. The company’s 50-day simple moving average is $318.03 and its 200-day simple moving average is $309.01. 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 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $268.85 billion, a PE ratio of 46.01, a P/E/G ratio of 2.58 and a beta of 1.35.

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.