Paces Ferry Wealth Advisors LLC Sells 173 Shares of Salesforce, Inc. (NYSE:CRM)

Paces Ferry Wealth Advisors LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,191 shares of the CRM provider’s stock after selling 173 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Salesforce were worth $1,401,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on CRM shares. Macquarie reiterated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Jefferies Financial Group raised their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Guggenheim reiterated a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment 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 assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Performance

CRM stock opened at $281.56 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50-day simple moving average of $313.51 and a two-hundred day simple moving average of $309.92.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The stock was 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. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,256 shares of company stock valued at $19,692,357 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.