Sei Investments Co. Sells 34,016 Shares of Salesforce, Inc. (NYSE:CRM)

Sei Investments Co. lessened its stake in Salesforce, Inc. (NYSE:CRM) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,440 shares of the CRM provider’s stock after selling 34,016 shares during the period. Sei Investments Co.’s holdings in Salesforce were worth $141,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the 4th quarter worth about $1,173,564,000. Jennison Associates LLC grew its position in Salesforce by 52.7% during 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 during the period. Swedbank AB grew its position in Salesforce by 46.7% during 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 during the period. Proficio Capital Partners LLC lifted its holdings in Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,256 shares of company stock valued at $19,692,357. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $281.56 on Friday. The business’s 50 day moving average is $313.51 and its 200-day moving average is $309.49. The stock has a market cap of $270.58 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 twelve month low of $212.00 and a twelve month high of $369.00.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research note on Wednesday. Scotiabank decreased 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 report on Monday, March 17th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday. Finally, Stephens began coverage on shares of Salesforce in a research note on Wednesday. They issued an “equal weight” rating and a $311.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.74.

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.