Pinnacle Wealth Planning Services Inc. Sells 2,357 Shares of Salesforce, Inc. (NYSE:CRM)

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 51.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,238 shares of the CRM provider’s stock after selling 2,357 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Salesforce were worth $748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in Salesforce during the third quarter worth about $182,000. United Advisor Group LLC boosted its holdings in Salesforce by 95.6% during the third quarter. United Advisor Group LLC now owns 1,715 shares of the CRM provider’s stock worth $469,000 after purchasing an additional 838 shares during the last quarter. River Road Asset Management LLC boosted its holdings in Salesforce by 91.1% during the third quarter. River Road Asset Management LLC now owns 29,128 shares of the CRM provider’s stock worth $7,973,000 after purchasing an additional 13,882 shares during the last quarter. HF Advisory Group LLC boosted its holdings in Salesforce by 50.7% during the third quarter. HF Advisory Group LLC now owns 5,410 shares of the CRM provider’s stock worth $1,481,000 after purchasing an additional 1,821 shares during the last quarter. Finally, Long Run Wealth Advisors LLC purchased a new position in Salesforce during the third quarter worth about $537,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. This represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Morgan Stanley boosted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BMO Capital Markets dropped their target price on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four 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 price target of $365.32.

Salesforce Price Performance

Shares of NYSE:CRM opened at $292.05 on Thursday. The company’s fifty day moving average price is $325.91 and its 200-day moving average price is $308.21. The firm has a market capitalization of $279.49 billion, a price-to-earnings ratio of 48.03, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one 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.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

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.