Sustainable Growth Advisers LP Sells 1,012,122 Shares of Salesforce, Inc. (NYSE:CRM)

Sustainable Growth Advisers LP lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 46.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,180,376 shares of the CRM provider’s stock after selling 1,012,122 shares during the quarter. Salesforce comprises approximately 2.0% of Sustainable Growth Advisers LP’s holdings, making the stock its 22nd largest holding. Sustainable Growth Advisers LP owned 0.12% of Salesforce worth $394,635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Raymond James Financial Inc. bought a new position in Salesforce during the fourth quarter worth $1,173,564,000. Jennison Associates LLC grew its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB grew its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. KBC Group NV grew its holdings in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after acquiring an additional 1,032,068 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after acquiring an additional 931,566 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, insider Parker Harris sold 942 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 2.8 %

Shares of Salesforce stock opened at $284.88 on Thursday. The firm has a 50-day moving average of $320.28 and a 200-day moving average of $308.86. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $273.77 billion, a PE ratio of 46.85, a PEG ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. Canaccord Genuity Group decreased their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on 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.