NBT Bank N A NY Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

NBT Bank N A NY lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,971 shares of the CRM provider’s stock after selling 358 shares during the period. NBT Bank N A NY’s holdings in Salesforce were worth $4,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CRM. Foundations Investment Advisors LLC lifted its holdings in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new position in shares of Salesforce in the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares in the last quarter. Athena Investment Management acquired a new stake in Salesforce during the fourth quarter valued at $236,000. Finally, Aljian Capital Management LLC increased its holdings in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRM shares. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Morgan Stanley increased their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Loop Capital cut their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $282.74 on Monday. The company has a market cap of $270.58 billion, a P/E ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. 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 stock has a 50-day moving average of $323.68 and a two-hundred day moving average of $308.84.

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.