Runnymede Capital Advisors Inc. Purchases Shares of 2,556 Salesforce, Inc. (NYSE:CRM)

Runnymede Capital Advisors Inc. acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,556 shares of the CRM provider's stock, valued at approximately $855,000. Salesforce makes up about 0.7% of Runnymede Capital Advisors Inc.'s portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also made changes to their positions in the business. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth $31,000. Collier Financial purchased a new stake in Salesforce in the fourth quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at $27,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin L. Washington purchased 1,695 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 36,541 shares of company stock valued at $11,599,604. 3.20% of the stock is owned by corporate insiders.

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Salesforce Price Performance

Shares of CRM stock traded up $2.63 during trading hours on Tuesday, hitting $288.59. The company's stock had a trading volume of 4,300,746 shares, 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. The business has a fifty day moving average of $312.85 and a 200-day moving average of $310.64. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market cap of $277.33 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and upped their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Stephens initiated coverage on Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $362.74.

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.