Machina Capital S.A.S. Has $599,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Machina Capital S.A.S. cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 50.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,792 shares of the CRM provider’s stock after selling 1,842 shares during the period. Machina Capital S.A.S.’s holdings in Salesforce were worth $599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new stake in Salesforce in the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Athena Investment Management bought a new stake in Salesforce in the 4th quarter valued at $236,000. Finally, Aljian Capital Management LLC boosted its stake in Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 1.2 %

Shares of Salesforce stock opened at $282.74 on Friday. The stock’s 50-day moving average is $323.68 and its 200 day moving average is $308.50. Salesforce, Inc. has a one year low of $212.00 and a one 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 firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRM. Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Jefferies Financial Group boosted their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by company insiders.

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.