Stevens Capital Management LP Sells 13,325 Shares of Salesforce, Inc. (NYSE:CRM)

Stevens Capital Management LP trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 64.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,333 shares of the CRM provider's stock after selling 13,325 shares during the quarter. Salesforce makes up approximately 1.0% of Stevens Capital Management LP's investment portfolio, making the stock its 14th biggest holding. Stevens Capital Management LP's holdings in Salesforce were worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nvest Financial LLC boosted its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD increased its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC increased its position in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock worth $14,194,689. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRM shares. Wedbush reiterated an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Stephens began coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective on the stock. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group upped their target price on Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $362.74.

Salesforce Price Performance

NYSE CRM traded down $7.68 on Wednesday, hitting $280.93. 5,069,961 shares of the company were exchanged, compared to its average volume of 6,388,326. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a 50 day moving average of $312.15 and a two-hundred day moving average of $310.95. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $269.97 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35.

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.