Salesforce, Inc. (NYSE:CRM) Shares Acquired by Andesa Financial Management Inc.

Andesa Financial Management Inc. increased its holdings in Salesforce, Inc. (NYSE:CRMGet Rating) by 4.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,207 shares of the CRM provider’s stock after purchasing an additional 100 shares during the quarter. Andesa Financial Management Inc.’s holdings in Salesforce were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. State Street Corp grew its position in Salesforce by 3.3% in the fourth quarter. State Street Corp now owns 44,253,857 shares of the CRM provider’s stock valued at $11,246,233,000 after acquiring an additional 1,417,895 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 15,448,821 shares of the CRM provider’s stock worth $3,914,460,000 after purchasing an additional 564,493 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Salesforce by 4.6% during the 1st quarter. Fisher Asset Management LLC now owns 15,234,715 shares of the CRM provider’s stock valued at $3,234,635,000 after buying an additional 669,616 shares during the last quarter. Jennison Associates LLC grew its position in shares of Salesforce by 42.2% during the 4th quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock valued at $3,509,260,000 after buying an additional 4,096,666 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Salesforce during the 4th quarter valued at about $2,689,030,000. 77.75% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of Salesforce stock traded down $0.89 during trading on Friday, reaching $190.38. The company’s stock had a trading volume of 92,244 shares, compared to its average volume of 4,710,289. The business’s 50-day moving average price is $174.61 and its 200-day moving average price is $189.44. The firm has a market cap of $189.43 billion, a PE ratio of 184.36, a P/E/G ratio of 5.20 and a beta of 1.08. Salesforce, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of Salesforce from $225.00 to $185.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. OTR Global lowered shares of Salesforce to a “positive” rating in a research note on Thursday, May 12th. Morgan Stanley cut their price target on shares of Salesforce from $360.00 to $291.00 in a report on Monday, May 16th. Loop Capital cut their price target on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating on the stock in a report on Thursday, June 2nd. Finally, Cowen dropped their price objective on shares of Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. Four equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $270.51.

Insider Activity

In related news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $165.37, for a total transaction of $380,351.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares of the company’s stock, valued at $4,783,492,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 973 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $165,828.39. Following the completion of the transaction, the insider now owns 93,103 shares of the company’s stock, valued at $15,867,544.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $165.37, for a total value of $380,351.00. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,049 shares of company stock valued at $13,746,419. 3.60% of the stock is owned by company insiders.

Salesforce Company Profile

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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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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