Salesforce, Inc. (NYSE:CRM) Shares Sold by Barings LLC

Barings LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,886 shares of the CRM provider’s stock after selling 490 shares during the quarter. Barings LLC’s holdings in Salesforce were worth $2,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at about $31,000. Collier Financial purchased a new stake in Salesforce during the fourth quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the third quarter valued at about $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CRM. The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson dropped their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their target price for the company from $380.00 to $400.00 in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 1.2 %

CRM opened at $282.74 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The business has a 50 day moving average of $323.68 and a 200-day moving average of $308.50.

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.