Salesforce, Inc. (NYSE:CRM) Shares Sold by Sandy Spring Bank

Sandy Spring Bank decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,830 shares of the CRM provider’s stock after selling 1,463 shares during the quarter. Sandy Spring Bank’s holdings in Salesforce were worth $11,979,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Royal London Asset Management Ltd. increased its holdings in shares of Salesforce by 1.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 570,423 shares of the CRM provider’s stock valued at $190,710,000 after acquiring an additional 5,506 shares during the last quarter. Next Capital Management LLC grew its stake in Salesforce by 42.7% during the 4th quarter. Next Capital Management LLC now owns 1,480 shares of the CRM provider’s stock worth $495,000 after buying an additional 443 shares during the last quarter. Generali Investments Management Co LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $7,879,000. GM Advisory Group LLC lifted its position in Salesforce by 73.5% during the 4th quarter. GM Advisory Group LLC now owns 1,393 shares of the CRM provider’s stock worth $466,000 after acquiring an additional 590 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its position in Salesforce by 408.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 45,462 shares of the CRM provider’s stock worth $15,207,000 after acquiring an additional 36,526 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, Director G Mason Morfit sold 15,353 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the transaction, the director now directly owns 2,898,509 shares of the company’s stock, valued at $987,087,239.95. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Up 0.3 %

NYSE:CRM opened at $279.44 on Thursday. The firm has a market capitalization of $268.54 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a 50 day moving average of $315.19 and a 200-day moving average of $309.50. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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.