Summitry LLC Sells 1,160 Shares of Salesforce, Inc. (NYSE:CRM)

Summitry LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,258 shares of the CRM provider’s stock after selling 1,160 shares during the quarter. Salesforce comprises approximately 3.1% of Summitry LLC’s portfolio, making the stock its 13th biggest holding. Summitry LLC’s holdings in Salesforce were worth $62,940,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC lifted its stake in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.9 %

Shares of Salesforce stock opened at $288.59 on Wednesday. The company’s fifty day simple moving average is $312.15 and its two-hundred day simple moving average is $310.95. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 company has a market cap of $277.33 billion, a P/E ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley boosted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Scotiabank cut their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Finally, Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,194,689 over the last 90 days. 3.20% of the stock is owned by company insiders.

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.