Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,274 shares of the CRM provider’s stock after selling 7,668 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Salesforce were worth $67,961,000 at the end of the most recent quarter.

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

Salesforce Trading Up 0.3 %

Shares of Salesforce stock opened at $279.44 on Thursday. The company has a 50-day moving average of $315.19 and a two-hundred day moving average of $309.50. The stock has a market cap of $268.54 billion, a PE ratio of 45.96, a price-to-earnings-growth 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. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated 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 directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,609 shares of company stock valued at $24,920,821 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Guggenheim reiterated a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Company 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.