Sfmg LLC Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

Sfmg LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,965 shares of the CRM provider’s stock after selling 383 shares during the period. Salesforce makes up about 0.6% of Sfmg LLC’s investment portfolio, making the stock its 24th largest holding. Sfmg LLC’s holdings in Salesforce were worth $7,678,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Nvest Financial LLC boosted its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its stake in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC boosted its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.9 %

Shares of NYSE CRM opened at $281.56 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 company has a market cap of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a 50-day simple moving average of $313.51 and a two-hundred day simple moving average of $309.49.

Wall Street Analyst Weigh In

Several analysts have commented on CRM shares. Stephens initiated coverage on Salesforce in a research note on Wednesday. They set an “equal weight” rating and a $311.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were 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 owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 16,487 shares of the firm’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 of the company’s stock, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,256 shares of company stock valued at $19,692,357 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.