Salesforce, Inc. (NYSE:CRM) Holdings Trimmed by TIAA Trust National Association

TIAA Trust National Association lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,408 shares of the CRM provider’s stock after selling 1,681 shares during the period. TIAA Trust National Association’s holdings in Salesforce were worth $29,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $31,000. Collier Financial acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,194,689 in the last 90 days. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRM shares. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Morgan Stanley boosted their price target on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Price Performance

NYSE:CRM opened at $288.59 on Wednesday. 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 company has a 50-day moving average of $312.15 and a 200-day moving average of $310.95. The company has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

About Salesforce

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.