Truvestments Capital LLC Has $787,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Truvestments Capital LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,353 shares of the CRM provider’s stock after buying an additional 77 shares during the quarter. Truvestments Capital LLC’s holdings in Salesforce were worth $787,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter worth $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $277.40 on Wednesday. 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 business has a 50-day simple moving average of $321.27 and a two-hundred day simple moving average of $309.03. The stock has a market cap of $266.58 billion, a price-to-earnings ratio of 45.63, a PEG 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.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. Guggenheim reissued a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Macquarie dropped their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

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.