Salesforce, Inc. (NYSE:CRM) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 41.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,344 shares of the CRM provider’s stock after selling 5,142 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Salesforce were worth $2,455,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRM. M&G PLC increased its holdings in shares of Salesforce by 97.3% during the third quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock valued at $3,911,000 after purchasing an additional 7,038 shares during the period. Consolidated Planning Corp acquired a new position in Salesforce during the third quarter worth about $206,000. ABLE Financial Group LLC acquired a new position in Salesforce during the third quarter worth about $213,000. Source Financial Advisors LLC acquired a new position in Salesforce during the third quarter worth about $222,000. Finally, CWA Asset Management Group LLC acquired a new position in Salesforce during the third quarter worth about $3,769,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value 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 represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock worth $383,156,227 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 1.2 %

NYSE CRM opened at $282.74 on Friday. The stock has a 50-day simple moving average of $323.68 and a 200 day simple moving average of $308.50. The company 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRM shares. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently 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.