CRM

Gordian Capital Singapore Pte Ltd Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

June 16, 2024

16 4 minutes read

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Gordian Capital Singapore Pte Ltd boosted its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,382 shares of the CRM provider’s stock after purchasing an additional 340 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Salesforce were worth $364,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Marks Group Wealth Management Inc increased its position in shares of Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. increased its position in shares of Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares in the last quarter. Parnassus Investments LLC increased its position in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. TD Asset Management Inc increased its position in shares of Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares in the last quarter. Finally, Pure Financial Advisors LLC acquired a new stake in Salesforce during the 4th quarter valued at $214,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 directly owns 13,101,166 shares of the company’s stock, valued at $4,056,645,040.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction 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 directly owns 13,101,166 shares in the company, valued at approximately $4,056,645,040.24. The disclosure for this sale can be found here. Insiders have sold a total of 634,670 shares of company stock valued at $178,310,008 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Sanford C. Bernstein raised their price target on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Thursday, May 30th. Piper Sandler lowered their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target on shares of Salesforce in a report on Friday, May 24th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Read Our Latest Research Report on CRM

Salesforce Stock Up 1.3 %

CRM stock opened at $231.94 on Friday. The firm’s 50-day moving average is $268.79 and its two-hundred day moving average is $276.94. The company has a market capitalization of $224.75 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 2.04 and a beta of 1.25. 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 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Profile

(Free Report)

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.