Salesforce, Inc. (NYSE:CRM) Stock Position Decreased by Machina Capital S.A.S.

Machina Capital S.A.S. cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,792 shares of the CRM provider’s stock after selling 1,842 shares during the quarter. Machina Capital S.A.S.’s holdings in Salesforce were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. RKL Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $232,000. Oak Hill Wealth Advisors LLC raised its holdings in shares of Salesforce by 197.0% during the fourth quarter. Oak Hill Wealth Advisors LLC now owns 962 shares of the CRM provider’s stock worth $322,000 after acquiring an additional 1,954 shares in the last quarter. Bradyco Inc. purchased a new stake in shares of Salesforce during the fourth quarter worth $1,302,000. Edgestream Partners L.P. purchased a new stake in shares of Salesforce during the fourth quarter worth $1,476,000. Finally, Jackson Creek Investment Advisors LLC raised its holdings in shares of Salesforce by 3.1% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 2,828 shares of the CRM provider’s stock worth $945,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of Salesforce 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 sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CRM shares. Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Scotiabank decreased their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler decreased their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Stock Performance

CRM stock opened at $282.74 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $323.68 and a 200 day moving average price of $308.50. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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.