Salesforce, Inc. (NYSE:CRM) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,302 shares of the CRM provider’s stock after selling 1,080 shares during the quarter. Salesforce accounts for about 1.6% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 13th largest holding. UNIVEST FINANCIAL Corp’s holdings in Salesforce were worth $25,510,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Salesforce during the fourth quarter worth approximately $934,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Salesforce in the fourth quarter valued at about $253,000. Momentous Wealth Management Inc. purchased a new position in shares of Salesforce in the fourth quarter worth about $313,000. Florida Financial Advisors LLC boosted its position in Salesforce by 109.3% during the fourth quarter. Florida Financial Advisors LLC now owns 1,972 shares of the CRM provider’s stock worth $659,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Aire Advisors LLC grew its stake in Salesforce by 6.2% during the 4th quarter. Aire Advisors LLC now owns 975 shares of the CRM provider’s stock valued at $326,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.9 %

NYSE:CRM opened at $288.59 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $277.33 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. 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 50-day simple moving average of $312.15 and a 200-day simple moving average of $310.95.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 3,273 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the sale, the insider now directly owns 125,146 shares of the company’s stock, valued at $35,614,048.68. The trade was a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,194,689 over the last three months. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Macquarie restated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Robert W. Baird dropped their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.