Salesforce, Inc. (NYSE:CRM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,876 shares of the CRM provider’s stock after selling 4,204 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Salesforce were worth $16,675,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at $31,000. Collier Financial acquired a new position in Salesforce in the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,609 shares of company stock valued at $24,920,821 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Down 0.6 %

Shares of CRM stock opened at $278.98 on Wednesday. The firm has a 50-day moving average price of $316.13 and a 200 day moving average price of $309.71. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $268.10 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Loop Capital dropped their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group boosted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $364.14.

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.