Leelyn Smith LLC Has $2.37 Million Position in Salesforce, Inc. (NYSE:CRM)

Leelyn Smith LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,095 shares of the CRM provider’s stock after acquiring an additional 172 shares during the quarter. Leelyn Smith LLC’s holdings in Salesforce were worth $2,372,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Salesforce in the fourth quarter valued at $1,173,564,000. Jennison Associates LLC lifted its position in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its stake in Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after acquiring an additional 931,566 shares during the period. Finally, State Street Corp grew its position in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRM. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Stifel Nicolaus decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Oppenheimer dropped their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.14.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE CRM opened at $280.83 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $269.87 billion, a P/E ratio of 46.19, a PEG ratio of 2.58 and a beta of 1.35. The stock has a 50-day simple moving average of $317.05 and a two-hundred day simple moving average of $309.53. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

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.