Callan Family Office LLC Buys New Shares in Salesforce, Inc. (NYSE:CRM)

Callan Family Office LLC purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,490 shares of the CRM provider's stock, valued at approximately $2,170,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CRM. Guggenheim reiterated a "sell" rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Citigroup reiterated a "cautious" rating on shares of Salesforce in a research note on Thursday, February 27th. Scotiabank decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, UBS Group lifted their price target on Salesforce from $275.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Two equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $365.62.

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Salesforce Price Performance

Shares of NYSE CRM traded up $4.50 on Tuesday, hitting $277.40. The company's stock had a trading volume of 8,312,449 shares, compared to its average volume of 7,080,394. 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 stock has a 50 day moving average of $322.41 and a 200-day moving average of $308.93. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $266.58 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin L. Washington purchased 1,695 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by corporate insiders.

Salesforce 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.