EverSource Wealth Advisors LLC Acquires 1,072 Shares of Salesforce, Inc. (NYSE:CRM)

EverSource Wealth Advisors LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,428 shares of the CRM provider's stock after acquiring an additional 1,072 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Salesforce were worth $2,483,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in 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 during the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter worth about $31,000. Collier Financial purchased a new position in shares of Salesforce in the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth about $27,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was 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 $14,071,750. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last ninety days. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of CRM opened at $284.88 on Thursday. The business's fifty day simple moving average is $320.28 and its two-hundred day simple moving average is $308.86. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $273.77 billion, a price-to-earnings ratio of 46.85, a P/E/G ratio of 2.58 and a beta of 1.35.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Wells Fargo & Company cut their price objective on Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Guggenheim reiterated a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Northland Securities reiterated an "outperform" rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, KeyCorp upgraded 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $365.62.

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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.

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