Teacher Retirement System of Texas Increases Position in Salesforce, Inc. (NYSE:CRM)

Teacher Retirement System of Texas grew its stake in Salesforce, Inc. (NYSE:CRM) by 57.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,246 shares of the CRM provider’s stock after acquiring an additional 130,130 shares during the quarter. Teacher Retirement System of Texas’ holdings in Salesforce were worth $119,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC increased its holdings 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 purchased a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE CRM opened at $279.44 on Thursday. The stock has a market capitalization of $268.54 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. 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 stock has a 50-day moving average of $315.19 and a 200 day moving average of $309.50.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Scotiabank dropped their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. Royal Bank of Canada boosted their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Citigroup restated a “buy” rating on shares of Salesforce in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.