Signature Estate & Investment Advisors LLC Cuts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Signature Estate & Investment Advisors LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 205,389 shares of the CRM provider’s stock after selling 15,454 shares during the period. Salesforce accounts for approximately 1.7% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 14th biggest holding. Signature Estate & Investment Advisors LLC’s holdings in Salesforce were worth $68,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Nvest Financial LLC lifted its stake in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD lifted its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC grew its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,541 shares of company stock valued at $11,599,604 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $286.26 on Tuesday. The firm has a 50 day moving average of $312.85 and a 200-day moving average of $310.64. The firm has a market capitalization of $275.10 billion, a P/E ratio of 47.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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.

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.