Kensington Investment Counsel LLC Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

Kensington Investment Counsel LLC decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 36.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,972 shares of the CRM provider’s stock after selling 1,132 shares during the quarter. Kensington Investment Counsel LLC’s holdings in Salesforce were worth $659,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Collier Financial purchased a new position in shares of Salesforce in the 4th quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.5 %

Shares of NYSE CRM opened at $280.83 on Tuesday. The company has a quick ratio of 1.11, a current 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 firm has a 50-day moving average price of $317.05 and a 200 day moving average price of $309.53. The stock has a market capitalization of $269.87 billion, a price-to-earnings ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. BMO Capital Markets dropped their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Bank of America dropped their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $364.14.

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.