Salesforce, Inc. (NYSE:CRM) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its holdings in Salesforce, Inc. (NYSE:CRM) by 21.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 427,381 shares of the CRM provider’s stock after selling 119,260 shares during the period. Salesforce accounts for about 1.3% of Tredje AP fonden’s holdings, making the stock its 14th biggest position. Tredje AP fonden’s holdings in Salesforce were worth $142,886,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRM. State Street Corp grew its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC grew its stake in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after buying an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Salesforce by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after buying an additional 153,500 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRM shares. Royal Bank of Canada boosted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Activity

In other news, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade 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 three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $284.88 on Thursday. The company has a 50-day moving average price of $320.28 and a two-hundred day moving average price of $308.86. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $273.77 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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.