Capital International Sarl Purchases 32,530 Shares of Salesforce, Inc. (NYSE:CRM)
Capital International Sarl increased its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 39.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,498 shares of the CRM provider’s stock after buying an additional 32,530 shares during the quarter. Salesforce accounts for about 1.1% of Capital International Sarl’s portfolio, making the stock its 19th biggest holding. Capital International Sarl’s holdings in Salesforce were worth $30,392,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CRM. Norges Bank bought a new position in Salesforce in the fourth quarter valued at approximately $2,762,331,000. Capital International Investors grew its stake in Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Cerity Partners LLC grew its stake in Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after purchasing an additional 3,226,512 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Salesforce by 23,653.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after buying an additional 1,400,300 shares during the last quarter. Finally, Lone Pine Capital LLC lifted its position in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on CRM shares. Oppenheimer cut their price objective on Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company cut their price objective on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Citigroup cut their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Evercore ISI cut their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, KeyCorp initiated coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.
View Our Latest Research Report on Salesforce
Salesforce Trading Up 2.2 %
Shares of CRM stock opened at $241.85 on Thursday. The firm has a market capitalization of $234.35 billion, a P/E ratio of 42.54, a P/E/G ratio of 2.06 and a beta of 1.25. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $277.69 and its 200 day simple moving average is $276.29.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data 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 business 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%. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.
Insider Buying and Selling
In other Salesforce news, CFO Amy E. Weaver sold 942 shares of Salesforce 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 transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce 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 transaction, the insider now directly owns 104,904 shares of the company’s stock, valued at approximately $31,429,238.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 942 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The disclosure for this sale can be found here. Insiders have sold 640,870 shares of company stock worth $182,545,398 in the last 90 days. 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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