TIAA Trust National Association Has $29.56 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

TIAA Trust National Association trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 88,408 shares of the CRM provider’s stock after selling 1,681 shares during the quarter. TIAA Trust National Association’s holdings in Salesforce were worth $29,557,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CRM. Foundations Investment Advisors LLC boosted its stake in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce during the 3rd quarter worth about $1,215,000. Athena Investment Management acquired a new stake in shares of Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC bought a new stake in Salesforce in the 4th quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC grew its stake in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares of the company’s stock, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,194,689 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 0.9 %

Shares of NYSE:CRM opened at $288.59 on Wednesday. The business has a fifty day simple moving average of $312.15 and a 200 day simple moving average of $310.95. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $277.33 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CRM shares. Citigroup restated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $362.74.

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.