Farmers & Merchants Investments Inc. raised its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,283 shares of the CRM provider’s stock after purchasing an additional 2,702 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Salesforce were worth $23,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other institutional investors have also recently modified their holdings of CRM. Capital Investment Advisors LLC grew its holdings in shares of Salesforce by 631.4% in the third quarter. Capital Investment Advisors LLC now owns 90,622 shares of the CRM provider’s stock valued at $20,804,000 after purchasing an additional 78,231 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Salesforce by 3.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 18,220 shares of the CRM provider’s stock valued at $4,183,000 after buying an additional 623 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Salesforce by 71.9% in the third quarter. Sterling Capital Management LLC now owns 47,618 shares of the CRM provider’s stock valued at $10,932,000 after acquiring an additional 19,920 shares during the last quarter. Kennebec Savings Bank boosted its holdings in Salesforce by 2.6% in the 3rd quarter. Kennebec Savings Bank now owns 3,859 shares of the CRM provider’s stock worth $886,000 after acquiring an additional 99 shares during the period. Finally, XXI Wealth LLC acquired a new position in shares of Salesforce in the 3rd quarter worth approximately $654,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Salesforce
In other news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the transaction, the director owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Blair Kirk bought 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The shares were bought at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the transaction, the director owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. This represents a 28.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by company insiders.
Salesforce Trading Down 0.6%
Salesforce stock opened at $248.79 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day moving average of $236.30 and a two-hundred day moving average of $196.88. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The stock has a market cap of $204.76 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.14 and a beta of 1.26.
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