TCTC Holdings LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

TCTC Holdings LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,553 shares of the CRM provider’s stock after acquiring an additional 203 shares during the period. Salesforce comprises about 1.2% of TCTC Holdings LLC’s portfolio, making the stock its 23rd largest holding. TCTC Holdings LLC’s holdings in Salesforce were worth $34,287,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Salesforce during the fourth quarter worth about $1,173,564,000. Jennison Associates LLC lifted its holdings in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the period. Swedbank AB lifted its holdings in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the last quarter. Finally, State Street Corp lifted 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 last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 3.0 %

CRM stock opened at $279.76 on Monday. The company has a market capitalization of $268.85 billion, a PE ratio of 46.01, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s 50-day moving average is $318.03 and its 200 day moving average is $309.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Buying and Selling

In other Salesforce news, Director Robin L. Washington bought 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, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRM shares. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

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.