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

Maryland State Retirement & Pension System lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Raymond James Financial Inc. acquired a new stake in Salesforce during the 4th quarter worth approximately $1,173,564,000. Jennison Associates LLC increased its position in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB increased its position in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC increased its position in Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after purchasing an additional 931,566 shares in the last quarter. Finally, State Street Corp increased its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Jefferies Financial Group upped 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. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Piper Sandler decreased their price target on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.14.

Salesforce Price Performance

Shares of NYSE CRM opened at $278.98 on Wednesday. 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 business’s fifty day moving average price is $316.13 and its two-hundred day moving average price is $309.71. The firm has a market capitalization of $268.10 billion, a PE ratio of 45.88, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15. Following the transaction, the director now directly owns 2,898,509 shares in the company, valued at $987,087,239.95. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,609 shares of company stock valued at $24,920,821. Company 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.