Graney & King LLC Acquires Shares of 161 Salesforce, Inc. (NYSE:CRM)

Graney & King LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 161 shares of the CRM provider’s stock, valued at approximately $54,000.

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

Salesforce Stock Up 0.9 %

CRM stock opened at $288.59 on Wednesday. The stock’s 50 day moving average is $312.15 and its 200-day moving average is $310.95. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization 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 company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares of the company’s stock, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was 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. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock worth $14,194,689. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Loop Capital cut their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One research 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.