Proficio Capital Partners LLC Acquires 1,153 Shares of Salesforce, Inc. (NYSE:CRM)

Proficio Capital Partners LLC raised its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,791 shares of the CRM provider's stock after acquiring an additional 1,153 shares during the quarter. Proficio Capital Partners LLC's holdings in Salesforce were worth $933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Arlington Trust Co LLC boosted its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Collier Financial bought a new position in Salesforce in the 4th quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter valued at $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.9 %

CRM stock traded up $2.63 during midday trading on Tuesday, reaching $288.59. The company's stock had a trading volume of 4,300,472 shares, compared to its average volume of 6,386,093. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. The stock has a fifty day simple moving average of $312.85 and a two-hundred day simple moving average of $310.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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Analysts Set New Price Targets

Several research firms have recently commented on CRM. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. 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. Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $362.74.

Insider Transactions at Salesforce

In other news, Director Robin L. Washington acquired 1,695 shares of Salesforce stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now directly owns 43,445 shares of the company's stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,541 shares of company stock worth $11,599,604. Insiders own 3.20% of the company's stock.

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.