Teacher Retirement System of Texas Has $75.97 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Teacher Retirement System of Texas cut its position in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 357,789 shares of the CRM provider’s stock after selling 55,317 shares during the quarter. Teacher Retirement System of Texas’ holdings in Salesforce were worth $75,966,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lebenthal Global Advisors LLC acquired a new stake in Salesforce during the fourth quarter worth about $399,000. Soltis Investment Advisors LLC grew its position in Salesforce by 6.2% during the first quarter. Soltis Investment Advisors LLC now owns 1,133 shares of the CRM provider’s stock worth $240,000 after buying an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Salesforce by 11.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 170,612 shares of the CRM provider’s stock worth $36,224,000 after buying an additional 17,441 shares in the last quarter. Addison Capital Co boosted its holdings in Salesforce by 37.4% during the first quarter. Addison Capital Co now owns 2,905 shares of the CRM provider’s stock valued at $617,000 after purchasing an additional 790 shares in the last quarter. Finally, Peterson Wealth Services boosted its holdings in Salesforce by 16.9% during the first quarter. Peterson Wealth Services now owns 8,846 shares of the CRM provider’s stock valued at $1,878,000 after purchasing an additional 1,279 shares in the last quarter. 77.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRM shares. Cowen decreased their price objective on Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. Cowen decreased their price objective on Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. CICC Research started coverage on Salesforce in a report on Monday, May 9th. They set an “outperform” rating on the stock. Raymond James decreased their price objective on Salesforce from $300.00 to $250.00 in a report on Wednesday, June 1st. Finally, Citigroup lifted their price objective on Salesforce to $192.00 in a report on Friday, June 3rd. Four research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $270.51.

Salesforce Price Performance

Shares of CRM stock opened at $190.17 on Friday. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75. The firm has a market capitalization of $189.22 billion, a price-to-earnings ratio of 184.63, a price-to-earnings-growth ratio of 5.25 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $175.12 and a 200-day moving average of $189.19.

Salesforce (NYSE:CRMGet Rating) last announced its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 24.3% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 2.18 earnings per share for the current year.

Insider Activity

In related news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $165.37, for a total value of $380,351.00. Following the completion of the transaction, the chief executive officer now directly owns 28,926,000 shares of the company’s stock, valued at approximately $4,783,492,620. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total value of $157,477.32. Following the completion of the transaction, the chief financial officer now directly owns 29,989 shares of the company’s stock, valued at approximately $5,111,025.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $165.37, for a total transaction of $380,351.00. Following the completion of the transaction, the chief executive officer now directly owns 28,926,000 shares of the company’s stock, valued at $4,783,492,620. The disclosure for this sale can be found here. Insiders sold 80,049 shares of company stock valued at $13,746,419 in the last quarter. Company insiders own 3.60% of the company’s stock.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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