Sound View Wealth Advisors Group LLC Has $2.46 Million Position in Salesforce, Inc. (NYSE:CRM)

Sound View Wealth Advisors Group LLC lowered its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 41.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,344 shares of the CRM provider's stock after selling 5,142 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in Salesforce were worth $2,455,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. M&G PLC boosted its holdings in Salesforce by 97.3% during the third quarter. M&G PLC now owns 14,273 shares of the CRM provider's stock valued at $3,911,000 after purchasing an additional 7,038 shares in the last quarter. Consolidated Planning Corp acquired a new stake in Salesforce in the 3rd quarter valued at $206,000. ABLE Financial Group LLC bought a new stake in Salesforce in the third quarter valued at $213,000. Source Financial Advisors LLC acquired a new position in Salesforce during the third quarter worth $222,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Salesforce during the third quarter valued at $3,769,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They set a "buy" rating for the company. Northland Securities restated an "outperform" rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Wedbush reiterated an "outperform" rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $365.62.

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Salesforce Stock Down 1.2 %

Shares of CRM traded down $3.32 during mid-day trading on Friday, hitting $282.74. 8,245,079 shares of the company's stock were exchanged, compared to its average volume of 6,985,041. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market cap of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a 50-day simple moving average of $323.68 and a 200 day simple moving average of $308.84.

Insider Buying and Selling

In related news, Director Robin L. Washington purchased 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by insiders.

About Salesforce

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.