Coordinated Financial Services Inc. Takes $301,000 Position in Salesforce, Inc. (NYSE:CRM)

Coordinated Financial Services Inc. acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 900 shares of the CRM provider's stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. State Street Corp grew its position in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC raised its stake in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after buying an additional 153,500 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock worth $1,632,599,000 after buying an additional 57,825 shares during the period. Institutional investors own 80.43% of the company's stock.

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Salesforce Stock Down 1.2 %

NYSE:CRM traded down $3.32 during mid-day trading on Friday, hitting $282.74. 8,245,079 shares of the company's stock were exchanged, compared to its average volume of 6,985,041. Salesforce, Inc. has a one year low of $212.00 and a one 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. The business has a fifty day moving average price of $323.68 and a 200 day moving average price of $308.84. The company has a market cap of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRM shares. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. KeyCorp raised Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Citigroup reissued a "cautious" rating on shares of Salesforce in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $365.62.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company's stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin L. Washington bought 1,695 shares of the firm's stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. Corporate 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.