Lingohr Asset Management GmbH Has $786,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Lingohr Asset Management GmbH lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 23.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,342 shares of the CRM provider’s stock after selling 723 shares during the period. Salesforce makes up approximately 1.6% of Lingohr Asset Management GmbH’s portfolio, making the stock its 21st biggest holding. Lingohr Asset Management GmbH’s holdings in Salesforce were worth $786,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The sale 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 Salesforce stock in a transaction on Monday, March 17th. The shares were 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 owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research report on Wednesday. Stephens began coverage on shares of Salesforce in a report on Wednesday. They issued an “equal weight” rating and a $311.00 price objective on the stock. Finally, Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Trading Up 0.3 %

Shares of Salesforce stock opened at $279.44 on Thursday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company’s fifty day simple moving average is $315.19 and its 200-day simple moving average is $309.50. 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 market capitalization of $268.54 billion, a PE ratio of 45.96, a P/E/G ratio of 2.58 and a beta of 1.35.

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.