Sei Investments Co. Sells 34,016 Shares of Salesforce, Inc. (NYSE:CRM)

Sei Investments Co. trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,440 shares of the CRM provider's stock after selling 34,016 shares during the quarter. Sei Investments Co.'s holdings in Salesforce were worth $141,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 257,501 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

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Salesforce Stock Up 0.9 %

Shares of Salesforce stock traded up $2.63 during trading hours on Tuesday, reaching $288.59. The company's stock had a trading volume of 4,300,746 shares, compared to its average volume of 6,386,093. The company has a market capitalization of $277.33 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The stock's fifty day simple moving average is $312.85 and its two-hundred day simple moving average is $310.64. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Bank of America reduced their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $362.74.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,541 shares of company stock worth $11,599,604 in the last quarter. Insiders own 3.20% of the company's stock.

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.