Jackson Hole Capital Partners LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Jackson Hole Capital Partners LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,807 shares of the CRM provider's stock after purchasing an additional 947 shares during the period. Jackson Hole Capital Partners LLC's holdings in Salesforce were worth $4,616,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Salesforce in the 4th quarter valued at about $54,834,000. Coordinated Financial Services Inc. purchased a new stake in Salesforce in the 4th quarter valued at about $301,000. United Community Bank boosted its position in Salesforce by 5.7% in the 4th quarter. United Community Bank now owns 3,040 shares of the CRM provider's stock valued at $1,016,000 after buying an additional 165 shares during the period. Personal CFO Solutions LLC boosted its position in Salesforce by 6.8% in the 4th quarter. Personal CFO Solutions LLC now owns 4,586 shares of the CRM provider's stock valued at $1,533,000 after buying an additional 292 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its position in Salesforce by 2.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after buying an additional 723 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 317,105 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on 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 completion of the transaction, the director now owns 3,192,009 shares of the company's stock, valued at $1,104,786,234.99. This trade represents a 18.45 % 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. Insiders own 3.20% of the company's stock.

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Salesforce Price Performance

Shares of NYSE:CRM traded down $3.32 during midday trading on Friday, hitting $282.74. The company's stock had a trading volume of 8,245,079 shares, compared to its average volume of 6,985,041. The business's 50 day simple moving average is $323.68 and its 200 day simple moving average is $308.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $270.58 billion, a P/E ratio of 46.50, 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup reissued a "cautious" rating on shares of Salesforce in a research report on Thursday, February 27th. Macquarie lowered their price objective on shares of Salesforce from $370.00 to $320.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Loop Capital lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group upped their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Oppenheimer lowered their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $365.62.

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.