Lee Danner & Bass Inc. Sells 700 Shares of Salesforce, Inc. (NYSE:CRM)

Lee Danner & Bass Inc. lessened its position in Salesforce, Inc. (NYSE:CRM) by 57.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 515 shares of the CRM provider’s stock after selling 700 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Salesforce were worth $172,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its stake in Salesforce by 15.0% in the fourth 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 last quarter. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce during the 3rd quarter valued at about $1,215,000. Athena Investment Management purchased a new stake in Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new stake in Salesforce during the 4th quarter valued at about $4,321,000. Finally, Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 257,501 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $281.56 on Friday. The company has a market cap of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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’s fifty day moving average price is $313.51 and its 200-day moving average price is $309.49. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRM shares. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays increased their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday. Macquarie reissued a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity at Salesforce

In related 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 transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 60,256 shares of company stock worth $19,692,357. Corporate insiders own 3.20% of the company’s stock.

Salesforce 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.