Kensington Investment Counsel LLC Lowers Stake in Salesforce, Inc. (NYSE:CRM)

Kensington Investment Counsel LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 36.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,972 shares of the CRM provider’s stock after selling 1,132 shares during the quarter. Kensington Investment Counsel LLC’s holdings in Salesforce were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nvest Financial LLC grew its holdings in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its position in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.5 %

Shares of NYSE:CRM opened at $280.83 on Tuesday. 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 fifty day simple moving average of $317.05 and a 200 day simple moving average of $309.53. The firm has a market cap of $269.87 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CRM shares. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Scotiabank decreased their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.14.

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.