United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Sells 13,073 Shares of Salesforce, Inc. (NYSE:CRM)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,328 shares of the CRM provider’s stock after selling 13,073 shares during the quarter. Salesforce accounts for about 2.0% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s portfolio, making the stock its 16th biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Salesforce were worth $51,596,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at $31,000. Collier Financial acquired a new position in Salesforce during the fourth quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter worth $27,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $288.59 on Wednesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market capitalization of $277.33 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average price is $312.15 and its 200-day moving average price is $310.95. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lifted their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,660 shares of company stock worth $14,194,689. Corporate insiders own 3.20% of the company’s stock.

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.