Fairscale Capital LLC Sells 64 Shares of Salesforce, Inc. (NYSE:CRM)

Fairscale Capital LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 1.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,317 shares of the CRM provider’s stock after selling 64 shares during the quarter. Salesforce accounts for approximately 1.2% of Fairscale Capital LLC’s investment portfolio, making the stock its 16th largest holding. Fairscale Capital LLC’s holdings in Salesforce were worth $1,443,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pettee Investors Inc. grew its holdings in shares of Salesforce by 15.1% during the 4th quarter. Pettee Investors Inc. now owns 1,190 shares of the CRM provider’s stock worth $398,000 after purchasing an additional 156 shares in the last quarter. AlphaQuest LLC bought a new stake in Salesforce during the fourth quarter worth about $813,000. Argentarii LLC acquired a new stake in Salesforce during the fourth quarter worth about $419,000. Jackson Hole Capital Partners LLC increased its holdings in Salesforce by 7.4% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 13,807 shares of the CRM provider’s stock valued at $4,616,000 after buying an additional 947 shares during the period. Finally, OFI Invest Asset Management acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $54,834,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $282.74 on Monday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year 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 stock has a 50-day moving average price of $323.68 and a 200-day moving average price of $308.84. The firm has a market cap of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % 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, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

About Salesforce

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.