Amica Mutual Insurance Co. Sells 1,904 Shares of Salesforce, Inc. (NYSE:CRM)

Amica Mutual Insurance Co. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,152 shares of the CRM provider’s stock after selling 1,904 shares during the period. Salesforce comprises 1.3% of Amica Mutual Insurance Co.’s investment portfolio, making the stock its 14th biggest position. Amica Mutual Insurance Co.’s holdings in Salesforce were worth $12,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Nvest Financial LLC boosted its stake in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD raised its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC grew its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its position in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 2.7 %

CRM opened at $280.93 on Thursday. 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 stock has a 50-day moving average of $311.35 and a 200 day moving average of $310.74. The firm has a market cap of $269.97 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRM shares. Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Scotiabank lowered their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction 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 sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares of the company’s stock, valued at $1,570,312.44. The trade was a 41.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,875 shares of company stock worth $13,580,649. 3.20% of the stock is currently owned by company insiders.

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.