Freestone Capital Holdings LLC Sells 3,301 Shares of Salesforce, Inc. (NYSE:CRM)

Freestone Capital Holdings LLC reduced its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 77,949 shares of the CRM provider's stock after selling 3,301 shares during the period. Salesforce accounts for approximately 0.9% of Freestone Capital Holdings LLC's investment portfolio, making the stock its 18th largest holding. Freestone Capital Holdings LLC's holdings in Salesforce were worth $26,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ethos Financial Group LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $237,000. Carmel Capital Partners LLC lifted its stake in Salesforce by 7.1% during the fourth quarter. Carmel Capital Partners LLC now owns 4,435 shares of the CRM provider's stock worth $1,483,000 after purchasing an additional 294 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at $1,173,564,000. Dana Investment Advisors Inc. grew its stake in shares of Salesforce by 2.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 84,147 shares of the CRM provider's stock worth $28,133,000 after buying an additional 1,694 shares during the last quarter. Finally, Vision Financial Markets LLC acquired a new position in shares of Salesforce during the fourth quarter worth $104,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRM shares. Macquarie dropped their target price on shares of Salesforce from $370.00 to $320.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Guggenheim reissued a "sell" rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Truist Financial reaffirmed a "buy" rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Citigroup reiterated a "cautious" rating on shares of Salesforce in a research note on Thursday, February 27th. Finally, BMO Capital Markets dropped their price target on shares of Salesforce from $375.00 to $367.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and a consensus target price of $365.32.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 317,105 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company's stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Up 1.6 %

NYSE CRM opened at $292.05 on Thursday. The business has a 50 day moving average price of $325.91 and a two-hundred day moving average price of $308.21. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market cap of $279.49 billion, a PE ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. Salesforce's quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

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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