Salesforce, Inc. (NYSE:CRM) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,381 shares of the CRM provider’s stock after selling 2,212 shares during the period. Securian Asset Management Inc.’s holdings in Salesforce were worth $17,178,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRM. United Bank boosted its stake in Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in Salesforce by 7.5% in the third quarter. Jaffetilchin Investment Partners LLC now owns 4,128 shares of the CRM provider’s stock valued at $1,130,000 after buying an additional 289 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Salesforce by 0.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 6,704 shares of the CRM provider’s stock valued at $1,835,000 after purchasing an additional 58 shares during the last quarter. Everhart Financial Group Inc. grew its position in shares of Salesforce by 16.4% in the third quarter. Everhart Financial Group Inc. now owns 5,086 shares of the CRM provider’s stock valued at $1,392,000 after purchasing an additional 715 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in shares of Salesforce by 5.9% in the third quarter. Apollon Wealth Management LLC now owns 25,801 shares of the CRM provider’s stock valued at $7,062,000 after purchasing an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.6 %

NYSE:CRM opened at $277.40 on Wednesday. The firm has a market cap of $266.58 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a fifty day moving average price of $321.27 and a 200 day moving average price of $309.03. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month 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.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 942 shares of the business’s 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 sale, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock worth $383,156,227 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, DA Davidson reduced their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $365.62.

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.