One Capital Management LLC Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

One Capital Management LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 7.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,434 shares of the CRM provider's stock after selling 4,323 shares during the period. One Capital Management LLC's holdings in Salesforce were worth $18,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Raymond James Financial Inc. acquired a new position in shares of Salesforce during the 4th quarter valued at $1,173,564,000. Jennison Associates LLC lifted its holdings 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 buying an additional 1,530,572 shares in the last quarter. Swedbank AB lifted its holdings in Salesforce by 46.7% in the 4th 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. KBC Group NV lifted its holdings in Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider's stock worth $447,470,000 after buying an additional 1,032,068 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider's stock worth $311,998,000 after buying an additional 931,566 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 1.6 %

Shares of NYSE CRM opened at $292.05 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $279.49 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. 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 business has a fifty day simple moving average of $325.91 and a 200-day simple moving average of $308.21.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, 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. Over the last ninety days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

CRM has been the subject of several research analyst reports. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Morgan Stanley boosted their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. BMO Capital Markets dropped their target price on shares of Salesforce from $375.00 to $367.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Loop Capital lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $365.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.