Zions Bancorporation N.A. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Zions Bancorporation N.A. grew its stake in Salesforce, Inc. (NYSE:CRM) by 35.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,136 shares of the CRM provider’s stock after buying an additional 6,270 shares during the quarter. Salesforce accounts for approximately 0.5% of Zions Bancorporation N.A.’s portfolio, making the stock its 29th biggest position. Zions Bancorporation N.A.’s holdings in Salesforce were worth $8,069,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nvest Financial LLC raised its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC lifted its stake in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Finally, Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Performance

Salesforce stock opened at $286.26 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week 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 market cap of $275.10 billion, a P/E ratio of 47.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a 50 day moving average of $312.85 and a 200-day moving average of $310.64.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the business’s 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 sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $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 have sold 36,541 shares of company stock valued at $11,599,604 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

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.