Evoke Wealth LLC Has $1.83 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Evoke Wealth LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,469 shares of the CRM provider’s stock after buying an additional 617 shares during the period. Evoke Wealth LLC’s holdings in Salesforce were worth $1,831,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,609 shares of company stock valued at $24,920,821. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.6 %

Shares of Salesforce stock opened at $278.98 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 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $316.13 and a two-hundred day moving average price of $309.71. The stock has a market capitalization of $268.10 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Canaccord Genuity Group dropped their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Citigroup reiterated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.14.

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.