Tiemann Investment Advisors LLC Has $3.30 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Tiemann Investment Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,876 shares of the CRM provider’s stock after buying an additional 186 shares during the quarter. Salesforce makes up approximately 1.5% of Tiemann Investment Advisors LLC’s portfolio, making the stock its 14th largest position. Tiemann Investment Advisors LLC’s holdings in Salesforce were worth $3,302,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CRM. Raymond James Financial Inc. purchased a new position in Salesforce during the 4th quarter valued at about $1,173,564,000. Jennison Associates LLC boosted its holdings in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB grew its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. KBC Group NV increased its stake in Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after buying an additional 1,032,068 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after buying an additional 931,566 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRM. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. 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. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

CRM opened at $282.74 on Monday. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock’s 50 day simple moving average is $323.68 and its 200-day simple moving average is $308.84. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce 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.