Liberty Wealth Management LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Liberty Wealth Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 102.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,821 shares of the CRM provider’s stock after buying an additional 923 shares during the quarter. Liberty Wealth Management LLC’s holdings in Salesforce were worth $609,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new position in shares of Salesforce in the 3rd quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC grew its stake in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Athena Investment Management purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $236,000. Finally, Aljian Capital Management LLC grew its stake in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRM shares. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, 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 report on Wednesday, December 4th. Two equities research 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 stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $365.62.

Insider Buying and Selling

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 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 filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 1.6 %

NYSE:CRM opened at $277.40 on Wednesday. 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 business’s 50-day simple moving average is $321.27 and its 200 day simple moving average is $309.03. The stock has a market cap of $266.58 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.