Garde Capital Inc. Sells 993 Shares of Salesforce, Inc. (NYSE:CRM)
Garde Capital Inc. cut its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,653 shares of the CRM provider’s stock after selling 993 shares during the quarter. Garde Capital Inc.’s holdings in Salesforce were worth $5,171,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CRM. Bear Mountain Capital Inc. bought a new position in Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the 4th quarter worth approximately $31,000. BKM Wealth Management LLC bought a new position in Salesforce during the 4th quarter worth approximately $34,000. Finally, Pacifica Partners Inc. grew its position in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.
Salesforce Stock Performance
Shares of CRM opened at $231.94 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market capitalization of $224.75 billion, a P/E ratio of 41.72, a PEG ratio of 2.01 and a beta of 1.25. The business has a fifty day moving average of $268.79 and a 200 day moving average of $276.94.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping 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 company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. Salesforce’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.
Insider Buying and Selling
In related news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on 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 in the company, valued at $12,040,011.36. The transaction was disclosed in a document filed 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 value of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,258,320.00. Following the completion of the sale, 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. Insiders sold 634,670 shares of company stock valued at $178,310,008 over the last 90 days. Company insiders own 3.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective on shares of Salesforce in a report on Friday, May 24th. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Robert W. Baird dropped their price objective on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, Mizuho dropped their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.
Read Our Latest Analysis on CRM
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.
Featured Articles
Receive News & Ratings for Salesforce Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Salesforce and related companies with MarketBeat.com’s FREE daily email newsletter.
