Machina Capital S.A.S. Sells 1,842 Shares of Salesforce, Inc. (NYSE:CRM)

Machina Capital S.A.S. trimmed its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,792 shares of the CRM provider's stock after selling 1,842 shares during the period. Machina Capital S.A.S.'s holdings in Salesforce were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CRM. RKL Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $232,000. Oak Hill Wealth Advisors LLC raised its position in Salesforce by 197.0% in the 4th quarter. Oak Hill Wealth Advisors LLC now owns 962 shares of the CRM provider's stock valued at $322,000 after buying an additional 1,954 shares during the last quarter. Bradyco Inc. purchased a new position in Salesforce during the 4th quarter worth $1,302,000. Edgestream Partners L.P. purchased a new position in Salesforce during the 4th quarter worth $1,476,000. Finally, Jackson Creek Investment Advisors LLC raised its holdings in shares of Salesforce by 3.1% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 2,828 shares of the CRM provider's stock valued at $945,000 after purchasing an additional 84 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on CRM. KeyCorp raised shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Citigroup reiterated a "cautious" rating on shares of Salesforce in a research note on Thursday, February 27th. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Northland Securities reiterated an "outperform" rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, UBS Group raised their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $365.62.

Remove Ads

Salesforce Stock Down 3.1 %

Salesforce stock traded down $8.82 during trading hours on Monday, hitting $274.08. 6,605,135 shares of the stock traded hands, compared to its average volume of 6,970,567. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $263.39 billion, a PE ratio of 45.03, a PEG ratio of 2.58 and a beta of 1.35. The firm's 50-day moving average price is $323.68 and its two-hundred day moving average price is $308.84. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last three months. 3.20% of the stock is currently owned by company insiders.

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.