Umpqua Bank Has $2.40 Million Stake in Salesforce, Inc. (NYSE:CRM)

Umpqua Bank decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. United Bank increased its holdings in Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after buying an additional 76 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Salesforce by 13.7% in the third quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock worth $6,044,000 after buying an additional 2,665 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Salesforce by 40.1% during the third quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock valued at $20,609,000 after purchasing an additional 21,540 shares during the last quarter. AlphaCore Capital LLC grew its holdings in Salesforce by 15.6% during the third quarter. AlphaCore Capital LLC now owns 6,397 shares of the CRM provider’s stock valued at $1,753,000 after purchasing an additional 864 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Salesforce by 3.0% during the third quarter. Raymond James Trust N.A. now owns 50,667 shares of the CRM provider’s stock valued at $13,868,000 after purchasing an additional 1,473 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday. Scotiabank reduced their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Up 0.9 %

CRM stock opened at $281.56 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.31, a PEG 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 business’s 50 day simple moving average is $313.51 and its 200 day simple moving average is $309.49.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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.