Vanguard Group Inc. Has $28.93 Billion Position in Salesforce, Inc. (NYSE:CRM)

Vanguard Group Inc. cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,529,686 shares of the CRM provider’s stock after selling 367,370 shares during the period. Salesforce comprises approximately 0.5% of Vanguard Group Inc.’s portfolio, making the stock its 24th largest position. Vanguard Group Inc. owned 9.04% of Salesforce worth $28,929,470,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Raymond James Financial Inc. acquired a new position in shares of Salesforce during the fourth quarter worth $1,173,564,000. Jennison Associates LLC lifted its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the period. Swedbank AB lifted its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the period. Proficio Capital Partners LLC grew its position in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after buying an additional 931,566 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Salesforce by 1.8% in the third 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 during the period. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the transaction, the chief operating officer now directly owns 1,662 shares in the company, valued at approximately $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 over the last three months. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Jefferies Financial Group boosted their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Up 0.9 %

Salesforce stock opened at $281.56 on Friday. The firm has a 50 day moving average price of $313.51 and a 200-day moving average price of $309.92. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce 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.