Mondrian Investment Partners LTD Sells 27,983 Shares of Salesforce, Inc. (NYSE:CRM)

Mondrian Investment Partners LTD decreased its position in Salesforce, Inc. (NYSE:CRM) by 57.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,722 shares of the CRM provider’s stock after selling 27,983 shares during the quarter. Mondrian Investment Partners LTD’s holdings in Salesforce were worth $7,081,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $270.94 on Friday. The business’s fifty day moving average price is $319.09 and its two-hundred day moving average price is $308.60. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $260.37 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now 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 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.

Analysts Set New Price Targets

Several research firms recently weighed in on CRM. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Piper Sandler reduced their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

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.