Sustainable Growth Advisers LP Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

Sustainable Growth Advisers LP cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 46.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,180,376 shares of the CRM provider’s stock after selling 1,012,122 shares during the quarter. Salesforce accounts for approximately 2.0% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 22nd biggest holding. Sustainable Growth Advisers LP’s holdings in Salesforce were worth $394,635,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. United Bank boosted its stake in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares during the period. First Heartland Consultants Inc. boosted its stake in Salesforce by 36.6% in the 3rd quarter. First Heartland Consultants Inc. now owns 1,851 shares of the CRM provider’s stock worth $507,000 after purchasing an additional 496 shares during the period. Aptus Capital Advisors LLC boosted its stake in Salesforce by 24.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,917 shares of the CRM provider’s stock worth $2,441,000 after purchasing an additional 1,724 shares during the period. RPG Investment Advisory LLC boosted its stake in Salesforce by 3.6% in the 3rd quarter. RPG Investment Advisory LLC now owns 38,101 shares of the CRM provider’s stock worth $10,429,000 after purchasing an additional 1,340 shares during the period. Finally, Dillon & Associates Inc. boosted its stake in Salesforce by 3.1% in the 3rd quarter. Dillon & Associates Inc. now owns 27,584 shares of the CRM provider’s stock worth $7,558,000 after purchasing an additional 836 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research analyst reports. Macquarie dropped their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Scotiabank decreased their price objective on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets decreased their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Price Performance

Shares of CRM opened at $284.88 on Thursday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month 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. The firm’s 50 day moving average price is $320.28 and its 200 day moving average price is $308.86. The firm has a market cap of $273.77 billion, a PE ratio of 46.85, a PEG ratio of 2.58 and a beta of 1.35.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 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.