RD Lewis Holdings Inc. Buys Shares of 1,691 Salesforce, Inc. (NYSE:CRM)

RD Lewis Holdings Inc. purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,691 shares of the CRM provider’s stock, valued at approximately $551,000.

Other institutional investors have also recently made changes to their positions in the company. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRM. Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Piper Sandler decreased their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, Morgan Stanley boosted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $364.14.

Salesforce Price Performance

Shares of CRM stock opened at $280.83 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $269.87 billion, a P/E ratio of 46.19, a P/E/G ratio of 2.58 and a beta of 1.35. The business has a fifty day simple moving average of $317.05 and a 200 day simple moving average of $309.53.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin L. Washington bought 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by insiders.

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.