Kestra Advisory Services LLC Sells 17,534 Shares of Salesforce, Inc. (NYSE:CRM)

Kestra Advisory Services LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,938 shares of the CRM provider’s stock after selling 17,534 shares during the quarter. Kestra Advisory Services LLC’s holdings in Salesforce were worth $36,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the third quarter worth approximately $27,000. Arlington Trust Co LLC grew 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 worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the fourth quarter worth approximately $32,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRM shares. 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. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. Citigroup reissued a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Finally, Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value 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 approximately $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 have sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $279.76 on Friday. The firm has a market cap of $268.85 billion, a PE ratio of 46.01, a PEG ratio of 2.58 and a beta of 1.35. The stock’s fifty day moving average price is $318.03 and its two-hundred day moving average price is $308.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year 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.