Salesforce, Inc. (NYSE:CRM) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,362 shares of the CRM provider’s stock after selling 464 shares during the quarter. First Financial Bankshares Inc’s holdings in Salesforce were worth $18,509,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter valued at $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% in the 4th 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 bought a new stake in shares of Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter worth approximately $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRM. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Piper Sandler dropped their target price on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Scotiabank reduced their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday. Finally, Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $364.14.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 16,487 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 1,662 shares in the company, valued at $566,210.16. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,609 shares of company stock valued at $24,920,821 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $278.98 on Wednesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market cap of $268.10 billion, a P/E ratio of 45.88, a P/E/G 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. The business’s fifty day moving average is $316.13 and its two-hundred day moving average is $309.71.

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.