Salesforce, Inc. (NYSE:CRM) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,000 shares of the CRM provider’s stock after selling 452 shares during the quarter. Salesforce makes up approximately 1.3% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 11th largest position. Essex Investment Management Co. LLC’s holdings in Salesforce were worth $7,355,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% during the 4th 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 last quarter. OMC Financial Services LTD grew its position in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC grew its position in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $282.74 on Friday. The company’s fifty day moving average is $323.68 and its 200-day moving average is $308.50. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

Several research analysts have commented on CRM shares. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group upped their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Guggenheim restated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Insider Transactions at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. 3.20% of the stock is owned by insiders.

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.