Knights of Columbus Asset Advisors LLC Reduces Stock Position in Salesforce, Inc. (NYSE:CRM)

Knights of Columbus Asset Advisors LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,281 shares of the CRM provider’s stock after selling 1,184 shares during the quarter. Salesforce accounts for 1.2% of Knights of Columbus Asset Advisors LLC’s portfolio, making the stock its 13th biggest holding. Knights of Columbus Asset Advisors LLC’s holdings in Salesforce were worth $17,813,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in Salesforce by 1.8% during the 3rd 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 holdings in shares of 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 buying an additional 257,501 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after buying an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $2,028,164,000 after buying an additional 153,500 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock worth $19,692,357 over the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 0.9 %

Shares of CRM opened at $281.56 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The stock’s 50-day moving average price is $313.51 and its 200-day moving average price is $309.49.

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.