Salesforce, Inc. (NYSE:CRM) Shares Sold by Barings LLC

Barings LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,886 shares of the CRM provider’s stock after selling 490 shares during the period. Barings LLC’s holdings in Salesforce were worth $2,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after purchasing an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, Director Robin L. Washington bought 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $282.74 on Friday. The firm has a 50-day moving average price of $323.68 and a 200 day moving average price of $308.50. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRM. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Robert W. Baird reduced their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.