Salesforce, Inc. (NYSE:CRM) Position Cut by Sandy Spring Bank

Sandy Spring Bank trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nvest Financial LLC lifted its stake in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD lifted its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC lifted its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its stake in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research reports. DA Davidson reduced their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. Finally, Macquarie cut their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction 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 $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 75,609 shares of company stock valued at $24,920,821. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $279.44 on Thursday. The company has a fifty day moving average price of $315.19 and a two-hundred day moving average price of $309.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $268.54 billion, a PE ratio of 45.96, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Company 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.