Salesforce, Inc. (NYSE:CRM) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,921 shares of the CRM provider’s stock after selling 527 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Salesforce were worth $1,647,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC increased its position in shares of 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 acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth about $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $282.74 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company’s 50-day moving average price is $323.68 and its 200 day moving average price is $308.50.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Scotiabank cut their price target on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Barclays increased their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned 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 an average rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Company 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.