Hillsdale Investment Management Inc. Has $1.62 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Hillsdale Investment Management Inc. cut its holdings in Salesforce, Inc. (NYSE:CRM) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,849 shares of the CRM provider’s stock after selling 310 shares during the period. Hillsdale Investment Management Inc.’s holdings in Salesforce were worth $1,621,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Intellus Advisors LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $284,000. American Century Companies Inc. boosted its stake in shares of Salesforce by 1.8% in the fourth quarter. American Century Companies Inc. now owns 3,811,354 shares of the CRM provider’s stock valued at $1,274,250,000 after buying an additional 67,930 shares during the period. Plancorp LLC grew its position in Salesforce by 10.6% during the fourth quarter. Plancorp LLC now owns 5,625 shares of the CRM provider’s stock worth $1,881,000 after buying an additional 537 shares in the last quarter. Vestor Capital LLC increased its stake in Salesforce by 1.2% during the 4th quarter. Vestor Capital LLC now owns 42,388 shares of the CRM provider’s stock worth $14,172,000 after acquiring an additional 491 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in Salesforce in the 4th quarter valued at $855,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,256 shares of company stock valued at $19,692,357. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CRM shares. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday. Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Price Performance

CRM stock opened at $281.56 on Friday. 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 firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The company’s fifty day simple moving average is $313.51 and its 200 day simple moving average is $309.92. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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.