9258 Wealth Management LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)
9258 Wealth Management LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 24.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,483 shares of the CRM provider’s stock after buying an additional 1,253 shares during the period. 9258 Wealth Management LLC’s holdings in Salesforce were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at about $31,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at about $34,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. DA Davidson reduced their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays reduced their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday. Robert W. Baird dropped their target price on Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Sanford C. Bernstein boosted their target price on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $292.79.
Get Our Latest Analysis on CRM
Insider Buying and Selling
In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at $2,688,171,467.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the sale, the chief executive officer now directly owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the sale, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 638,070 shares of company stock valued at $182,912,726. 3.20% of the stock is currently owned by company insiders.
Salesforce Trading Up 7.5 %
Shares of Salesforce stock opened at $234.44 on Friday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market cap of $227.17 billion, a PE ratio of 42.17, a P/E/G ratio of 1.92 and a beta of 1.30. The business’s fifty day moving average is $281.80 and its two-hundred day moving average is $275.97. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. Analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.
About Salesforce
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.
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