M. Kulyk & Associates LLC Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

M. Kulyk & Associates LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,705 shares of the CRM provider's stock after selling 4,420 shares during the period. Salesforce accounts for approximately 1.3% of M. Kulyk & Associates LLC's portfolio, making the stock its 27th largest holding. M. Kulyk & Associates LLC's holdings in Salesforce were worth $5,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC lifted its position in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider's stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Athena Investment Management purchased a new stake in shares of Salesforce during the fourth quarter worth $236,000. Finally, Aljian Capital Management LLC lifted its position in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider's stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Northland Securities restated an "outperform" rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Piper Sandler dropped their target price on Salesforce from $405.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company lowered their price objective on Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Finally, DA Davidson lowered their price objective on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $365.62.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company's stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the company's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 1.2 %

Shares of NYSE CRM traded down $3.32 during trading hours on Friday, hitting $282.74. The company's stock had a trading volume of 8,245,079 shares, compared to its average volume of 6,985,041. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business has a 50-day simple moving average of $323.68 and a 200-day simple moving average of $308.84. 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 stock has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35.

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.