Salesforce, Inc. (NYSE:CRM) Stake Lessened by M. Kulyk & Associates LLC

M. Kulyk & Associates LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,705 shares of the CRM provider’s stock after selling 4,420 shares during the period. Salesforce comprises about 1.3% of M. Kulyk & Associates LLC’s investment portfolio, making the stock its 27th largest position. M. Kulyk & Associates LLC’s holdings in Salesforce were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the fourth quarter worth $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $282.74 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $323.68 and its two-hundred day moving average price is $308.50. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CRM shares. Piper Sandler decreased their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Scotiabank decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $365.62.

Insiders Place Their Bets

In related news, Director Robin L. Washington acquired 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’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 owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate insiders.

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.