Primecap Management Co. CA Has $167.70 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Primecap Management Co. CA reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 501,600 shares of the CRM provider’s stock after selling 7,500 shares during the quarter. Primecap Management Co. CA owned 0.05% of Salesforce worth $167,700,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRM. United Bank boosted its position in shares of Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares in the last quarter. GLOBALT Investments LLC GA lifted its stake in Salesforce by 3.8% during the third quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider’s stock worth $361,000 after purchasing an additional 48 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Salesforce in the 3rd quarter valued at $1,051,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Salesforce in the 3rd quarter valued at $213,000. Finally, Joseph Group Capital Management raised its holdings in shares of Salesforce by 35.0% during the 3rd quarter. Joseph Group Capital Management now owns 9,696 shares of the CRM provider’s stock worth $2,654,000 after buying an additional 2,515 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,609 shares of company stock valued at $24,920,821 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 0.6 %

CRM stock opened at $278.98 on Wednesday. The stock’s 50 day simple moving average is $316.13 and its 200 day simple moving average is $309.71. The company has a market cap of $268.10 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Canaccord Genuity Group reduced their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock 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 given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $364.14.

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.