Millstone Evans Group LLC Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Millstone Evans Group LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 2,463 shares of the CRM provider's stock, valued at approximately $823,000.

A number of other large investors have also recently made changes to their positions in CRM. Foundations Investment Advisors LLC boosted its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Salesforce in the 3rd quarter valued at $1,215,000. Athena Investment Management acquired a new position in Salesforce during the fourth quarter worth about $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC increased its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lowered their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

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Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,541 shares of company stock worth $11,599,604 over the last ninety days. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 0.9 %

Shares of NYSE:CRM traded up $2.63 during trading on Tuesday, hitting $288.59. 4,300,746 shares of the company's stock traded hands, compared to its average volume of 6,386,093. 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 52 week low of $212.00 and a 52 week high of $369.00. The company has a 50-day moving average price of $312.85 and a 200-day moving average price of $310.64. The company has a market cap of $277.33 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce Company 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.