Financial Engines Advisors L.L.C. Buys 3,351 Shares of Salesforce, Inc. (NYSE:CRM)

Financial Engines Advisors L.L.C. boosted its stake in Salesforce, Inc. (NYSE:CRM) by 175.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,256 shares of the CRM provider’s stock after acquiring an additional 3,351 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Salesforce were worth $1,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Counselors Inc. increased its position in shares of Salesforce by 1.4% during the fourth quarter. Financial Counselors Inc. now owns 171,762 shares of the CRM provider’s stock worth $57,425,000 after buying an additional 2,439 shares during the period. Morey & Quinn Wealth Partners LLC bought a new stake in Salesforce during the fourth quarter valued at $934,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Salesforce in the 4th quarter worth about $253,000. Momentous Wealth Management Inc. acquired a new position in shares of Salesforce in the 4th quarter valued at about $313,000. Finally, Florida Financial Advisors LLC boosted its position in shares of Salesforce by 109.3% during the 4th quarter. Florida Financial Advisors LLC now owns 1,972 shares of the CRM provider’s stock valued at $659,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRM shares. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Oppenheimer dropped their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Price Performance

CRM opened at $280.93 on Thursday. The firm has a 50-day moving average price of $311.35 and a 200-day moving average price of $310.74. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month 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 company has a market capitalization of $269.97 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’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 transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,875 shares of company stock valued at $13,580,649. Company insiders own 3.20% of the company’s stock.

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.