Salesforce, Inc. (NYSE:CRM) Shares Sold by Northern Trust Corp
Northern Trust Corp lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,602,950 shares of the CRM provider’s stock after selling 592,158 shares during the period. Salesforce makes up approximately 0.5% of Northern Trust Corp’s portfolio, making the stock its 29th biggest holding. Northern Trust Corp owned 1.10% of Salesforce worth $2,790,060,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Pacifica Partners Inc. lifted its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on CRM. Truist Financial restated a “buy” rating and issued a $300.00 price objective (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Sanford C. Bernstein increased their target price on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Mizuho reduced their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $292.79.
Salesforce Stock Down 0.4 %
Shares of NYSE:CRM traded down $0.99 on Friday, reaching $241.77. The company had a trading volume of 1,412,109 shares, compared to its average volume of 6,554,708. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a 50-day moving average price of $276.53 and a 200 day moving average price of $276.05. The stock has a market capitalization of $234.28 billion, a P/E ratio of 43.35, a P/E/G ratio of 2.08 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last announced 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. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.
Insider Buying and Selling
In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the completion of the transaction, the insider now owns 104,904 shares of the company’s stock, valued at approximately $31,429,238.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total value of $1,258,320.00. Following the transaction, the insider now owns 104,904 shares in the company, valued at $31,429,238.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 640,870 shares of company stock valued at $182,545,398. Insiders own 3.20% of the company’s stock.
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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