Salesforce, Inc. (NYSE:CRM) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,355,185 shares of the CRM provider’s stock after selling 263,216 shares during the quarter. Salesforce makes up approximately 1.8% of First Eagle Investment Management LLC’s portfolio, making the stock its 20th largest holding. First Eagle Investment Management LLC owned 0.25% of Salesforce worth $787,409,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its position in 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 acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in 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 acquiring an additional 31 shares during the last quarter. Sachetta LLC boosted its position in 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 acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% during 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 institutional investors and hedge funds.

Salesforce Price Performance

Shares of CRM stock opened at $270.94 on Friday. The firm has a market cap of $260.37 billion, a P/E ratio of 44.56, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a fifty day moving average of $319.09 and a two-hundred day moving average of $308.60.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s 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 sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Guggenheim restated a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Northland Securities restated an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group increased their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group increased their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

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.