Tocqueville Asset Management L.P. Lowers Stake in Salesforce, Inc. (NYSE:CRM)

Tocqueville Asset Management L.P. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,216 shares of the CRM provider’s stock after selling 9,386 shares during the quarter. Salesforce makes up approximately 1.1% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 18th largest position. Tocqueville Asset Management L.P.’s holdings in Salesforce were worth $67,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% during the fourth 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 during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce during the fourth quarter valued at $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $279.76 on Monday. The stock has a market cap of $268.85 billion, a PE ratio of 46.01, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a fifty day simple moving average of $318.03 and a 200-day simple moving average of $309.36.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was 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 in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s 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 sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup restated a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Canaccord Genuity Group decreased their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $365.62.

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.