Salesforce, Inc. (NYSE:CRM) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 844 shares of the CRM provider’s stock after selling 88 shares during the period. Washington Trust Advisors Inc.’s holdings in Salesforce were worth $282,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC grew its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s 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 sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Truist Financial restated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Citigroup restated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.32.

Salesforce Stock Performance

Salesforce stock opened at $292.05 on Thursday. The firm has a market capitalization of $279.49 billion, a P/E ratio of 48.03, a PEG ratio of 2.58 and a beta of 1.35. The stock has a fifty day moving average price of $325.91 and a 200 day moving average price of $308.21. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

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.