Jackson Hole Capital Partners LLC Acquires 947 Shares of Salesforce, Inc. (NYSE:CRM)

Jackson Hole Capital Partners LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% in the 4th quarter, Holdings Channel reports. The firm owned 13,807 shares of the CRM provider’s stock after buying an additional 947 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Salesforce were worth $4,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Salesforce by 1.8% during the third 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 during the last quarter. Geode Capital Management LLC lifted its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction 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 approximately $14,071,750. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now directly owns 43,445 shares in the company, 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. In the last quarter, insiders sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. Stifel Nicolaus dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets dropped their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. DA Davidson dropped their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Stock Performance

Shares of CRM opened at $282.74 on Friday. The company has a market cap of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a 50-day moving average of $323.68 and a 200-day moving average of $308.50.

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.