First Financial Bankshares Inc Sells 464 Shares of Salesforce, Inc. (NYSE:CRM)

First Financial Bankshares Inc lessened its position in Salesforce, Inc. (NYSE:CRM) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Salesforce during the 4th quarter worth about $1,173,564,000. Jennison Associates LLC raised its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares in the last quarter. Swedbank AB raised its holdings in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the last quarter. Finally, State Street Corp grew its stake in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. DA Davidson dropped their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, BMO Capital Markets cut their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $364.14.

Insider Buying and Selling

In related news, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,609 shares of company stock worth $24,920,821. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.6 %

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

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.