Johnson Investment Counsel Inc. Has $8.01 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Johnson Investment Counsel Inc. cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,963 shares of the CRM provider’s stock after selling 186 shares during the period. Johnson Investment Counsel Inc.’s holdings in Salesforce were worth $8,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its position in shares of Salesforce by 1.8% during 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 purchasing an additional 864,193 shares during the period. Geode Capital Management LLC increased its position in shares of Salesforce by 1.3% during 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 purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC increased its position in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 3.7 %

NYSE:CRM opened at $272.38 on Tuesday. 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 company has a market cap of $261.76 billion, a PE ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a 50-day simple moving average of $322.41 and a 200 day simple moving average of $308.93.

Analysts Set New Price Targets

A number of analysts have weighed in on CRM shares. The Goldman Sachs Group upped their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Morgan Stanley boosted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank reduced their price objective on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have issued 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 currently has an average rating of “Moderate Buy” and an average price target of $365.62.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate insiders.

About Salesforce

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.