SageView Advisory Group LLC Has $2.74 Million Holdings in Salesforce, Inc. (NYSE:CRM)
SageView Advisory Group LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 110.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,512 shares of the CRM provider’s stock after buying an additional 4,990 shares during the quarter. SageView Advisory Group LLC’s holdings in Salesforce were worth $2,737,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. increased its position in shares of Salesforce by 333.3% during the fourth 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 period. Finally, BKM Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CRM has been the topic of a number of research reports. Wolfe Research restated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. KeyCorp began coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Truist Financial reiterated a “buy” rating and issued a $300.00 price target (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. BMO Capital Markets lowered their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Barclays lowered their price target on Salesforce from $355.00 to $305.00 and set an “overweight” 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 issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.
Check Out Our Latest Research Report on Salesforce
Insider Activity at Salesforce
In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $309.64, for a total value of $4,644,600.00. Following the sale, the chief executive officer now owns 13,101,166 shares of the company’s stock, valued at approximately $4,056,645,040.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $309.64, for a total transaction of $4,644,600.00. Following the transaction, the chief executive officer now owns 13,101,166 shares of the company’s stock, valued at approximately $4,056,645,040.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total value of $1,437,840.00. Following the transaction, the director now directly owns 6,855 shares in the company, valued at $1,642,732.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 615,470 shares of company stock valued at $172,557,838. 3.20% of the stock is owned by insiders.
Salesforce Price Performance
Shares of CRM opened at $230.49 on Tuesday. 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 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market cap of $223.34 billion, a P/E ratio of 41.46, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The stock’s 50-day moving average price is $267.36 and its two-hundred day moving average price is $277.12.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the business posted $1.15 EPS. Salesforce’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.
Salesforce 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.
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