Umpqua Bank Sells 305 Shares of Salesforce, Inc. (NYSE:CRM)

Umpqua Bank reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,403 shares of the CRM provider’s stock after selling 305 shares during the period. Umpqua Bank’s holdings in Salesforce were worth $2,395,000 at the end of the most recent reporting period.

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

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $566,210.16. The trade was a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated 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 of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,256 shares of company stock valued at $19,692,357. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $281.56 on Friday. The firm has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a fifty day moving average of $313.51 and a 200 day moving average of $309.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday. UBS Group increased their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Oppenheimer decreased their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus 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.