Kampmann Melissa S. Sells 990 Shares of Salesforce, Inc. (NYSE:CRM)

Kampmann Melissa S. lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,459 shares of the CRM provider’s stock after selling 990 shares during the period. Salesforce makes up approximately 2.2% of Kampmann Melissa S.’s portfolio, making the stock its 23rd largest position. Kampmann Melissa S.’s holdings in Salesforce were worth $2,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. United Bank increased its position in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares in the last quarter. LMR Partners LLP purchased a new stake in Salesforce in the third quarter worth approximately $1,051,000. Meeder Asset Management Inc. boosted its holdings in Salesforce by 67.3% in the third quarter. Meeder Asset Management Inc. now owns 666 shares of the CRM provider’s stock worth $182,000 after purchasing an additional 268 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Salesforce by 7.6% in the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock worth $65,161,000 after purchasing an additional 16,724 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in Salesforce by 5,505.1% in the third quarter. Sachetta LLC now owns 10,986 shares of the CRM provider’s stock worth $3,007,000 after purchasing an additional 10,790 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the transaction, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % 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 Stock Performance

Salesforce stock opened at $279.44 on Thursday. The company’s 50-day moving average price is $315.19 and its 200-day moving average price is $309.50. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRM shares. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stephens began coverage on shares of Salesforce in a report on Wednesday. They issued an “equal weight” rating and a $311.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Scotiabank dropped their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Company 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.