Salesforce, Inc. (NYSE:CRM) Holdings Cut by Ceera Investments LLC

Ceera Investments LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,198 shares of the CRM provider’s stock after selling 315 shares during the period. Salesforce comprises approximately 2.7% of Ceera Investments LLC’s holdings, making the stock its 7th largest holding. Ceera Investments LLC’s holdings in Salesforce were worth $7,756,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Raymond James Financial Inc. purchased a new position in shares of Salesforce during the 4th quarter worth approximately $1,173,564,000. Jennison Associates LLC boosted its position 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 purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB boosted its position in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. KBC Group NV boosted its position in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after purchasing an additional 931,566 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robin L. Washington acquired 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRM. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets dropped their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Macquarie lowered their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Down 1.2 %

Shares of CRM stock opened at $282.74 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. The stock has a fifty day simple moving average of $323.68 and a two-hundred day simple moving average of $308.50.

Salesforce Company 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.