GS Investments Inc. Sells 340 Shares of Salesforce, Inc. (NYSE:CRM)

GS Investments Inc. lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,694 shares of the CRM provider’s stock after selling 340 shares during the quarter. Salesforce accounts for about 1.8% of GS Investments Inc.’s portfolio, making the stock its 23rd biggest position. GS Investments Inc.’s holdings in Salesforce were worth $3,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Raymond James Financial Inc. bought a new position in Salesforce in the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC raised its stake in Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB grew its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares in the last quarter. Finally, State Street Corp increased its stake in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $279.44 on Thursday. The stock has a market capitalization of $268.54 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s 50 day moving average price is $315.19 and its 200-day moving average price is $309.50. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CRM shares. Guggenheim restated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research note on Wednesday. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Insider Buying and Selling

In other Salesforce news, Director Robin L. Washington purchased 1,695 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, 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. Insiders sold a total of 75,609 shares of company stock valued at $24,920,821 over the last three months. Corporate 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.