Mondrian Investment Partners LTD Sells 27,983 Shares of Salesforce, Inc. (NYSE:CRM)

Mondrian Investment Partners LTD lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 57.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,722 shares of the CRM provider’s stock after selling 27,983 shares during the period. Mondrian Investment Partners LTD’s holdings in Salesforce were worth $7,081,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Nvest Financial LLC increased its stake 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 buying an additional 31 shares during the period. OMC Financial Services LTD grew its stake 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 purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake 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 purchasing an additional 31 shares during the period. Sachetta LLC grew its stake 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 purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its stake 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 purchasing an additional 32 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRM shares. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank decreased their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 27th. Finally, BMO Capital Markets cut their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robin L. Washington purchased 1,695 shares of Salesforce stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $270.94 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day simple moving average of $319.09 and a two-hundred day simple moving average of $308.60. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market capitalization 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.

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.