NBT Bank N A NY Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

NBT Bank N A NY lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,971 shares of the CRM provider’s stock after selling 358 shares during the period. NBT Bank N A NY’s holdings in Salesforce were worth $4,671,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, 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 transaction of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Macquarie cut their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Stock Down 1.2 %

Shares of CRM stock opened at $282.74 on Monday. The stock’s fifty day moving average price is $323.68 and its 200 day moving average price is $308.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company 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.

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.