Thrivent Financial for Lutherans Sells 63,816 Shares of Salesforce, Inc. (NYSE:CRM)

Thrivent Financial for Lutherans cut its position in Salesforce, Inc. (NYSE:CRM) by 7.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 769,065 shares of the CRM provider’s stock after selling 63,816 shares during the quarter. Salesforce comprises about 0.5% of Thrivent Financial for Lutherans’ portfolio, making the stock its 23rd biggest holding. Thrivent Financial for Lutherans owned approximately 0.08% of Salesforce worth $257,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Taylor Financial Group Inc. acquired a new position in shares of Salesforce during the 4th quarter worth approximately $229,000. PDS Planning Inc boosted its stake in shares of Salesforce by 4.8% in the fourth quarter. PDS Planning Inc now owns 4,711 shares of the CRM provider’s stock valued at $1,575,000 after buying an additional 215 shares during the period. Leelyn Smith LLC grew its position in Salesforce by 2.5% during the fourth quarter. Leelyn Smith LLC now owns 7,095 shares of the CRM provider’s stock worth $2,372,000 after buying an additional 172 shares in the last quarter. RD Lewis Holdings Inc. acquired a new position in Salesforce in the 4th quarter valued at $551,000. Finally, BlackDiamond Wealth Management LLC lifted its position in shares of Salesforce by 14.7% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 1,346 shares of the CRM provider’s stock valued at $450,000 after acquiring an additional 172 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 0.5 %

Shares of NYSE CRM opened at $280.83 on Tuesday. The company’s 50 day moving average price is $317.05 and its 200-day moving average price is $309.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market capitalization of $269.87 billion, a P/E ratio of 46.19, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robin L. Washington purchased 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,108,793 shares of company stock valued at $383,156,227 over the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRM shares. Robert W. Baird cut their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank reduced their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $364.14.

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.