Salesforce, Inc. (NYSE:CRM) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Salesforce, Inc. (NYSE:CRM) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 203,274 shares of the CRM provider’s stock after selling 7,668 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Salesforce were worth $67,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at $31,000. Collier Financial purchased a new position in shares of Salesforce during the 4th quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Morgan Stanley upped their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Macquarie lowered their target price on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Scotiabank cut their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Stock Performance

Salesforce stock opened at $279.44 on Thursday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $268.54 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a 50 day moving average of $315.19 and a 200-day moving average of $309.50.

Insider Activity at Salesforce

In other 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 transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the transaction, the director now owns 2,898,509 shares of the company’s stock, 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. Insiders have sold 75,609 shares of company stock valued at $24,920,821 over the last ninety days. Corporate 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.