Trillium Asset Management LLC Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

Trillium Asset Management LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,274 shares of the CRM provider’s stock after selling 66 shares during the period. Trillium Asset Management LLC’s holdings in Salesforce were worth $1,429,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CRM. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at about $31,000. Collier Financial purchased a new stake in Salesforce during the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the third quarter worth about $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday. Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.3 %

Shares of CRM stock opened at $279.44 on Thursday. The company has a market capitalization of $268.54 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $315.19 and its two-hundred day moving average is $309.50. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 75,609 shares of company stock worth $24,920,821 in the last three months. Insiders own 3.20% of the company’s stock.

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.