LM Advisors LLC Has $5.82 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

LM Advisors LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,378 shares of the CRM provider’s stock after purchasing an additional 2,005 shares during the quarter. Salesforce accounts for approximately 1.0% of LM Advisors LLC’s portfolio, making the stock its 18th biggest holding. LM Advisors LLC’s holdings in Salesforce were worth $5,817,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRM. State Street Corp grew its stake in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC increased its stake in shares of Salesforce by 1.3% in 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 in the last quarter. Fisher Asset Management LLC boosted its stake in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after purchasing an additional 153,500 shares during the period. Finally, Jennison Associates LLC increased its stake in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.7 %

CRM opened at $280.93 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $311.35 and its 200-day moving average price is $310.74. The company has a market cap of $269.97 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling at Salesforce

In other news, CEO Brian Millham sold 3,937 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,875 shares of company stock worth $13,580,649. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Macquarie restated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.