Condor Capital Management Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

Condor Capital Management lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,327 shares of the CRM provider’s stock after selling 416 shares during the period. Condor Capital Management’s holdings in Salesforce were worth $5,459,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CRM. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Collier Financial bought a new position in shares of Salesforce in the 4th quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank decreased their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday. Finally, Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,609 shares of company stock worth $24,920,821 over the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.3 %

NYSE CRM opened at $279.44 on Thursday. The company has a market capitalization of $268.54 billion, a PE ratio of 45.96, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average of $315.19 and a 200 day moving average of $309.50. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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.