Bank of Marin Decreases Stake in Salesforce, Inc. (NYSE:CRM)

Bank of Marin lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 4,161 shares of the CRM provider’s stock after selling 57 shares during the period. Salesforce comprises 1.1% of Bank of Marin’s holdings, making the stock its 24th biggest position. Bank of Marin’s holdings in Salesforce were worth $1,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial purchased a new position in Salesforce in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Jefferies Financial Group raised their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $364.14.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce 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 transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,609 shares of company stock worth $24,920,821. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $278.98 on Wednesday. The stock has a 50-day simple moving average of $316.13 and a 200-day simple moving average of $309.71. 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 stock has a market capitalization of $268.10 billion, a PE ratio of 45.88, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

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.