Fiduciary Group LLC Sells 657 Shares of Salesforce, Inc. (NYSE:CRM)

Fiduciary Group LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,137 shares of the CRM provider’s stock after selling 657 shares during the quarter. Fiduciary Group LLC’s holdings in Salesforce were worth $2,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Raymond James Financial Inc. bought a new position in shares of Salesforce in the fourth quarter valued at $1,173,564,000. Jennison Associates LLC lifted its stake 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 valued at $1,482,347,000 after buying an additional 1,530,572 shares in the last quarter. Swedbank AB lifted its stake in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after buying an additional 931,566 shares in the last quarter. Finally, State Street Corp lifted its stake 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 buying an additional 864,193 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research note on Wednesday. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a report on Friday, December 13th. Barclays increased their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, DA Davidson lowered their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Price Performance

CRM stock opened at $279.44 on Thursday. The firm has a 50 day moving average of $315.19 and a 200-day moving average of $309.50. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $268.54 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.