Salesforce, Inc. (NYSE:CRM) Holdings Boosted by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,136 shares of the CRM provider’s stock after purchasing an additional 6,270 shares during the quarter. Salesforce makes up 0.5% of Zions Bancorporation N.A.’s portfolio, making the stock its 29th largest holding. Zions Bancorporation N.A.’s holdings in Salesforce were worth $8,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC raised its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares in the last quarter. Swedbank AB boosted its position in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after purchasing an additional 931,566 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 2.0 %

Salesforce stock opened at $286.26 on Tuesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a quick ratio of 1.11, a current 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 P/E/G ratio of 2.58 and a beta of 1.35. The company’s fifty day simple moving average is $312.85 and its 200-day simple moving average is $310.64.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upped their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 36,541 shares of company stock valued at $11,599,604. Insiders own 3.20% of the company’s stock.

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.