Knights of Columbus Asset Advisors LLC Has $17.81 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Knights of Columbus Asset Advisors LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,281 shares of the CRM provider's stock after selling 1,184 shares during the quarter. Salesforce comprises approximately 1.2% of Knights of Columbus Asset Advisors LLC's portfolio, making the stock its 13th biggest holding. Knights of Columbus Asset Advisors LLC's holdings in Salesforce were worth $17,813,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC increased its holdings in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after buying an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce during the third quarter worth about $1,215,000. Athena Investment Management purchased a new position in shares of Salesforce in the 4th quarter worth about $236,000. Highland Capital Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at about $4,321,000. Finally, Geode Capital Management LLC increased its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company's stock, valued at $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 a total of 45,660 shares of company stock worth $14,194,689 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRM. Northland Securities reiterated an "outperform" rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Macquarie reiterated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Royal Bank of Canada boosted their price objective on Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Finally, Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $362.74.

Salesforce Price Performance

CRM traded up $2.63 during trading on Tuesday, reaching $288.59. The stock had a trading volume of 4,300,746 shares, compared to its average volume of 6,395,108. The stock has a 50 day moving average of $312.15 and a two-hundred day moving average of $310.95. 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 firm has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

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.