Knights of Columbus Asset Advisors LLC Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Knights of Columbus Asset Advisors LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,281 shares of the CRM provider’s stock after selling 1,184 shares during the quarter. Salesforce comprises 1.2% of Knights of Columbus Asset Advisors LLC’s holdings, making the stock its 13th largest position. Knights of Columbus Asset Advisors LLC’s holdings in Salesforce were worth $17,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC increased its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the third quarter valued at approximately $1,215,000. Athena Investment Management acquired a new stake in Salesforce during the fourth quarter worth $236,000. Highland Capital Management LLC acquired a new stake in Salesforce during the fourth quarter worth $4,321,000. Finally, Geode Capital Management LLC increased its stake in 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 acquiring an additional 257,501 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 over the last quarter. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several recent analyst reports. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Performance

Shares of CRM stock opened at $281.56 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s 50-day simple moving average is $313.51 and its 200-day simple moving average is $309.49. The stock has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35.

About Salesforce

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.