Motley Fool Wealth Management LLC Sells 11,305 Shares of Salesforce, Inc. (NYSE:CRM)

Motley Fool Wealth Management LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,089 shares of the CRM provider’s stock after selling 11,305 shares during the quarter. Salesforce accounts for approximately 3.1% of Motley Fool Wealth Management LLC’s portfolio, making the stock its 5th biggest position. Motley Fool Wealth Management LLC’s holdings in Salesforce were worth $59,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Raymond James Financial Inc. purchased a new position in shares of Salesforce during the 4th quarter worth approximately $1,173,564,000. Jennison Associates LLC lifted its stake 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 purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB grew its stake in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after buying an additional 931,566 shares during the period. Finally, State Street Corp lifted its stake in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $288.59 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a fifty day moving average of $312.15 and a 200-day moving average of $310.95. The stock has a market cap of $277.33 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,660 shares of company stock valued at $14,194,689. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRM shares. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Wells Fargo & Company cut their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Guggenheim restated a “sell” rating and set a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.