Zions Bancorporation N.A. Raises Stake in Salesforce, Inc. (NYSE:CRM)

Zions Bancorporation N.A. increased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 35.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,136 shares of the CRM provider's stock after acquiring an additional 6,270 shares during the quarter. Salesforce makes up about 0.5% of Zions Bancorporation N.A.'s portfolio, making the stock its 29th biggest holding. Zions Bancorporation N.A.'s holdings in Salesforce were worth $8,069,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CRM. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter worth $31,000. Collier Financial acquired a new stake in shares of Salesforce in the fourth quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter worth about $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRM. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Truist Financial restated a "buy" rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Wedbush reiterated an "outperform" rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

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Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,875 shares of company stock valued at $13,580,649. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Down 0.8 %

Salesforce stock traded down $2.35 during midday trading on Thursday, reaching $278.64. The company's stock had a trading volume of 1,808,280 shares, compared to its average volume of 6,371,798. The company has a market cap of $267.77 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.58 and a beta of 1.35. 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 business has a 50-day simple moving average of $311.35 and a 200-day simple moving average of $310.74. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

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.