UniSuper Management Pty Ltd Trims Position in Salesforce, Inc. (NYSE:CRM)

UniSuper Management Pty Ltd reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 651,165 shares of the CRM provider’s stock after selling 9,681 shares during the quarter. Salesforce accounts for approximately 1.6% of UniSuper Management Pty Ltd’s holdings, making the stock its 13th biggest position. UniSuper Management Pty Ltd owned about 0.07% of Salesforce worth $217,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Foundations Investment Advisors LLC increased its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce in the 3rd quarter worth $1,215,000. Athena Investment Management bought a new position in Salesforce in the 4th quarter worth $236,000. Highland Capital Management LLC bought a new stake in Salesforce during the fourth quarter valued at about $4,321,000. Finally, Geode Capital Management LLC increased its position in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $280.93 on Thursday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $269.97 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s fifty day moving average is $311.35 and its two-hundred day moving average is $310.74. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. Northland Securities reiterated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wells Fargo & Company dropped their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 3,273 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now directly owns 125,146 shares in the company, valued at $35,614,048.68. This represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at $1,570,312.44. This represents a 41.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,875 shares of company stock worth $13,580,649. Insiders own 3.20% of the company’s stock.

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.