Vanguard Group Inc. Lowers Position in Salesforce, Inc. (NYSE:CRM)

Vanguard Group Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,529,686 shares of the CRM provider’s stock after selling 367,370 shares during the quarter. Salesforce comprises about 0.5% of Vanguard Group Inc.’s holdings, making the stock its 24th largest position. Vanguard Group Inc. owned 0.09% of Salesforce worth $28,929,470,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nvest Financial LLC lifted its stake in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD raised its position in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing 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 valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $281.56 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $313.51 and its 200-day moving average price is $309.92. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market cap of $270.58 billion, a PE ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 16,487 shares of the business’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 sale, the chief operating officer now directly owns 1,662 shares in the company, valued at $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,256 shares of company stock worth $19,692,357. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Guggenheim reaffirmed a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Stephens started coverage on Salesforce in a research note on Wednesday. They issued an “equal weight” rating and a $311.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.