Kampmann Melissa S. Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Kampmann Melissa S. trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 10.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,459 shares of the CRM provider’s stock after selling 990 shares during the period. Salesforce makes up about 2.2% of Kampmann Melissa S.’s investment portfolio, making the stock its 23rd biggest position. Kampmann Melissa S.’s holdings in Salesforce were worth $2,828,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Nvest Financial LLC boosted its position in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD boosted its position in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC boosted its position in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Brian Millham sold 16,487 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This represents a 90.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 15,353 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares in the company, valued at $987,087,239.95. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,609 shares of company stock valued at $24,920,821 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Finally, Loop Capital lowered their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Up 0.3 %

CRM stock opened at $279.44 on Thursday. The firm’s fifty day simple moving average is $315.19 and its 200-day simple moving average is $309.50. The company has a market capitalization of $268.54 billion, a P/E ratio of 45.96, 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. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month 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.