Salesforce, Inc. (NYSE:CRM) Position Increased by United Community Bank

United Community Bank raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,040 shares of the CRM provider’s stock after buying an additional 165 shares during the quarter. United Community Bank’s holdings in Salesforce were worth $1,016,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $1,173,564,000. Jennison Associates LLC lifted its position in shares of Salesforce by 52.7% in the fourth 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 lifted its position in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. KBC Group NV lifted its position in shares of Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after purchasing an additional 931,566 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRM shares. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. BMO Capital Markets cut their price objective on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Scotiabank cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $365.62.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated 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 sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 1.2 %

Shares of NYSE CRM opened at $282.74 on Friday. The business has a fifty day moving average of $323.68 and a two-hundred day moving average of $308.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

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.