Amica Mutual Insurance Co. Sells 1,904 Shares of Salesforce, Inc. (NYSE:CRM)

Amica Mutual Insurance Co. lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,152 shares of the CRM provider’s stock after selling 1,904 shares during the period. Salesforce comprises 1.3% of Amica Mutual Insurance Co.’s holdings, making the stock its 14th biggest holding. Amica Mutual Insurance Co.’s holdings in Salesforce were worth $12,755,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CRM. Foundations Investment Advisors LLC boosted its holdings in shares of Salesforce by 15.0% during the 4th 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 in the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the third quarter valued at about $1,215,000. Athena Investment Management acquired a new stake in shares of Salesforce during the fourth quarter valued at about $236,000. Highland Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth about $4,321,000. Finally, Geode Capital Management LLC increased its stake in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Brian Millham sold 3,937 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,875 shares of company stock worth $13,580,649. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.7 %

CRM stock opened at $280.93 on Thursday. The stock’s 50 day moving average is $311.35 and its 200-day moving average is $310.74. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $269.97 billion, a PE ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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.