United Services Automobile Association Sells 96 Shares of Salesforce, Inc. (NYSE:CRM)

United Services Automobile Association lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,585 shares of the CRM provider’s stock after selling 96 shares during the period. United Services Automobile Association’s holdings in Salesforce were worth $7,551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC raised its position 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 worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new stake in Salesforce in the fourth quarter worth approximately $31,000. Collier Financial acquired a new position in Salesforce in the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRM shares. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada upped their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Performance

Shares of CRM opened at $281.56 on Monday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 stock’s fifty day moving average price is $313.51 and its two-hundred day moving average price is $310.36. The firm has a market cap of $270.58 billion, a PE ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’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 of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of 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 trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,762 shares of company stock worth $13,733,407. Company insiders own 3.20% of the company’s stock.

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.