Murphy & Mullick Capital Management Corp Buys New Shares in Salesforce, Inc. (NYSE:CRM)

Murphy & Mullick Capital Management Corp purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 757 shares of the CRM provider’s stock, valued at approximately $253,000.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $288.59 on Wednesday. The firm has a market cap of $277.33 billion, a PE ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The stock has a 50-day moving average price of $312.15 and a 200-day moving average price of $310.95. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was 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 link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. 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 ninety days, insiders sold 45,660 shares of company stock valued at $14,194,689. 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.