Polen Capital Management LLC Cuts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Polen Capital Management LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 45.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,582 shares of the CRM provider’s stock after selling 16,128 shares during the period. Polen Capital Management LLC’s holdings in Salesforce were worth $6,547,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRM. Nvest Financial LLC boosted its holdings in shares of Salesforce by 1.1% in the 4th 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 in the last quarter. OMC Financial Services LTD boosted its holdings in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC boosted its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, Director Robin L. Washington bought 1,695 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $279.76 on Monday. 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 firm has a fifty day moving average of $318.03 and a 200 day moving average of $309.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. UBS Group lifted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada lifted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Macquarie lowered their target price on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.