Stevens Capital Management LP Has $2.45 Million Position in Salesforce, Inc. (NYSE:CRM)

Stevens Capital Management LP lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 64.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,333 shares of the CRM provider’s stock after selling 13,325 shares during the quarter. Salesforce comprises approximately 1.0% of Stevens Capital Management LP’s holdings, making the stock its 14th largest position. Stevens Capital Management LP’s holdings in Salesforce were worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRM. Arlington Trust Co LLC raised its position in 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. Collier Financial bought a new stake in Salesforce during the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth approximately $27,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRM. Stephens began coverage on Salesforce in a research report on Wednesday. They issued an “equal weight” rating and a $311.00 target price on the stock. Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $281.56 on Friday. The company has a market cap of $270.58 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a 50-day moving average price of $313.51 and a 200-day moving average price of $309.92. 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 12 month low of $212.00 and a 12 month high of $369.00.

Insider Activity

In other Salesforce news, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,256 shares of company stock valued at $19,692,357. Insiders own 3.20% of the company’s stock.

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.