Salesforce, Inc. (NYSE:CRM) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 45.2% during the 4th quarter, HoldingsChannel reports. The fund owned 19,582 shares of the CRM provider’s stock after selling 16,128 shares during the quarter. Polen Capital Management LLC’s holdings in Salesforce were worth $6,547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC lifted its position in 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 buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc acquired a new position in Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $279.76 on Monday. The company has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a 50 day moving average price of $318.03 and a 200 day moving average price of $309.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Activity

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their target price on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. UBS Group upped their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.62.

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.