Salesforce, Inc. (NYSE:CRM) Shares Bought by Mascoma Wealth Management LLC

Mascoma Wealth Management LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 518 shares of the CRM provider’s stock after buying an additional 51 shares during the period. Mascoma Wealth Management LLC’s holdings in Salesforce were worth $173,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CRM. Foundations Investment Advisors LLC boosted its position in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $1,215,000. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter valued at $236,000. Aljian Capital Management LLC grew its stake in Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in Salesforce in the 4th quarter worth $4,321,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRM shares. Bank of America dropped their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Citigroup restated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Stock Up 2.8 %

NYSE:CRM opened at $284.88 on Thursday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $320.28 and its two-hundred day moving average is $308.86. The stock has a market capitalization of $273.77 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 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.