Salesforce, Inc. (NYSE:CRM) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,202,484 shares of the CRM provider’s stock after selling 49,228 shares during the quarter. Salesforce accounts for approximately 0.6% of Prudential Financial Inc.’s portfolio, making the stock its 28th largest holding. Prudential Financial Inc. owned 0.13% of Salesforce worth $402,026,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CRM. Twin City Private Wealth LLC increased its stake in shares of Salesforce by 3.0% in the 4th quarter. Twin City Private Wealth LLC now owns 3,321 shares of the CRM provider’s stock valued at $1,112,000 after purchasing an additional 97 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in Salesforce in the 4th quarter valued at $67,000. Community Bank N.A. grew its position in shares of Salesforce by 2.5% in the fourth quarter. Community Bank N.A. now owns 5,529 shares of the CRM provider’s stock valued at $1,848,000 after purchasing an additional 135 shares during the period. Napatree Capital LLC increased its stake in shares of Salesforce by 32.1% during the fourth quarter. Napatree Capital LLC now owns 1,520 shares of the CRM provider’s stock worth $508,000 after purchasing an additional 369 shares in the last quarter. Finally, Meridian Wealth Partners LLC lifted its stake in Salesforce by 5.3% in the 4th quarter. Meridian Wealth Partners LLC now owns 834 shares of the CRM provider’s stock valued at $279,000 after buying an additional 42 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stephens initiated coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. DA Davidson decreased their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Oppenheimer decreased their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.9 %

Shares of CRM stock opened at $281.56 on Monday. 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 market capitalization of $270.58 billion, a PE ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The business’s fifty day moving average price is $313.51 and its 200 day moving average price is $310.36.

Insider Activity

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares in the company, 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 a total of 42,762 shares of company stock worth $13,733,407 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.