Salesforce, Inc. (NYSE:CRM) Shares Sold by Renasant Bank

Renasant Bank lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 13.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,812 shares of the CRM provider’s stock after selling 874 shares during the quarter. Salesforce makes up approximately 1.3% of Renasant Bank’s holdings, making the stock its 17th largest position. Renasant Bank’s holdings in Salesforce were worth $1,943,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nvest Financial LLC grew its holdings in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD lifted its position in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC grew its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

NYSE:CRM opened at $270.94 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market cap of $260.37 billion, a P/E ratio of 44.56, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $319.09 and its 200 day simple moving average is $308.60.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. UBS Group increased their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Piper Sandler lowered their price objective on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s 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 directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last 90 days. 3.20% of the stock is currently owned by insiders.

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.