690 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Rockbridge Investment Management LCC

Rockbridge Investment Management LCC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 690 shares of the CRM provider’s stock, valued at approximately $231,000.

Several other hedge funds have also bought and sold shares of the stock. Foundations Investment Advisors LLC grew its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the third quarter valued at approximately $1,215,000. Athena Investment Management bought a new position in shares of Salesforce in the fourth quarter worth approximately $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth $4,321,000. Finally, Geode Capital Management LLC raised its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $280.93 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $269.97 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm has a 50-day moving average of $311.35 and a two-hundred day moving average of $310.74. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,875 shares of company stock valued at $13,580,649. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRM shares. TD Cowen raised shares of 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 report on Friday, January 17th. Canaccord Genuity Group cut their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Guggenheim reissued a “sell” rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Northland Securities reiterated an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Company 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.