Tiemann Investment Advisors LLC Buys 186 Shares of Salesforce, Inc. (NYSE:CRM)

Tiemann Investment Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,876 shares of the CRM provider’s stock after purchasing an additional 186 shares during the period. Salesforce makes up about 1.5% of Tiemann Investment Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Tiemann Investment Advisors LLC’s holdings in Salesforce were worth $3,302,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC increased its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring 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 $1,215,000. Prime Capital Investment Advisors LLC increased its holdings in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce in the 4th quarter valued at about $236,000. Finally, Aljian Capital Management LLC lifted its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This 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 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.2 %

Shares of CRM opened at $282.74 on Monday. 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, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s 50 day moving average is $323.68 and its 200-day moving average is $308.84. The stock has a market capitalization of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Loop Capital cut their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Company 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.