UNIVEST FINANCIAL Corp Decreases Position in Salesforce, Inc. (NYSE:CRM)

UNIVEST FINANCIAL Corp decreased its stake in Salesforce, Inc. (NYSE:CRM) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,302 shares of the CRM provider’s stock after selling 1,080 shares during the quarter. Salesforce comprises 1.6% of UNIVEST FINANCIAL Corp’s portfolio, making the stock its 13th biggest holding. UNIVEST FINANCIAL Corp’s holdings in Salesforce were worth $25,510,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of CRM. Foundations Investment Advisors LLC boosted its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce during the 3rd quarter worth approximately $1,215,000. Athena Investment Management purchased a new position in Salesforce during the 4th quarter valued at $236,000. Highland Capital Management LLC purchased a new stake in Salesforce in the fourth quarter worth $4,321,000. Finally, Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.9 %

Salesforce stock opened at $288.59 on Wednesday. The stock has a 50-day moving average price of $312.15 and a 200 day moving average price of $310.95. The company has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, DA Davidson cut their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock worth $14,194,689. Company 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.