Salesforce, Inc. (NYSE:CRM) Shares Bought by AXQ Capital LP

AXQ Capital LP increased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 135.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,111 shares of the CRM provider's stock after buying an additional 1,213 shares during the quarter. AXQ Capital LP's holdings in Salesforce were worth $706,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. United Bank increased its position in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider's stock valued at $1,999,000 after acquiring an additional 76 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Salesforce by 40.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider's stock valued at $20,609,000 after purchasing an additional 21,540 shares during the last quarter. Biltmore Family Office LLC acquired a new position in shares of Salesforce in the third quarter valued at approximately $204,000. Allen Capital Group LLC raised its stake in shares of Salesforce by 25.1% during the third quarter. Allen Capital Group LLC now owns 1,022 shares of the CRM provider's stock worth $280,000 after purchasing an additional 205 shares during the last quarter. Finally, Nwam LLC purchased a new position in Salesforce in the 3rd quarter valued at $1,152,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Down 2.7 %

Shares of NYSE:CRM traded down $7.68 during trading on Wednesday, reaching $280.93. 5,069,961 shares of the stock were exchanged, compared to its average volume of 6,378,375. The firm's 50-day moving average price is $312.15 and its 200 day moving average price is $310.95. The firm has a market cap of $269.97 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 652 shares of the business'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 transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares of the company's stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,194,689 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Robert W. Baird reduced their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. DA Davidson lowered their price objective on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Wedbush reissued an "outperform" rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Guggenheim restated a "sell" rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. One equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $362.74.

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.