Ceera Investments LLC Has $7.76 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Ceera Investments LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 23,198 shares of the CRM provider’s stock after selling 315 shares during the quarter. Salesforce makes up 2.7% of Ceera Investments LLC’s holdings, making the stock its 7th biggest holding. Ceera Investments LLC’s holdings in Salesforce were worth $7,756,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its stake in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in Salesforce in the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC lifted its stake in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Athena Investment Management bought a new stake in Salesforce in the fourth quarter worth about $236,000. Finally, Aljian Capital Management LLC lifted its stake in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. 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. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.2 %

NYSE CRM opened at $282.74 on Friday. The company has a market capitalization of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average of $323.68 and a 200 day moving average of $308.50. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. DA Davidson decreased their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Scotiabank reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Finally, Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

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.