Salesforce, Inc. (NYSE:CRM) Shares Sold by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 54.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,622 shares of the CRM provider’s stock after selling 3,126 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Salesforce were worth $877,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter valued at approximately $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM opened at $279.76 on Monday. The stock’s 50-day moving average price is $318.03 and its 200 day moving average price is $309.36. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $268.85 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35.

Analysts Set New Price Targets

CRM has been the subject of several research analyst reports. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and set a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Insider Buying and Selling

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value 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 $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.