CRM

Peterson Wealth Management Has $1.25 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

June 16, 2024

16 4 minutes read

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Peterson Wealth Management cut its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,732 shares of the CRM provider’s stock after selling 103 shares during the period. Peterson Wealth Management’s holdings in Salesforce were worth $1,245,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital World Investors raised its holdings in Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after acquiring an additional 457,463 shares during the period. Fisher Asset Management LLC raised its holdings in Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after acquiring an additional 752,566 shares during the period. Capital International Investors raised its holdings in Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Northern Trust Corp raised its holdings in Salesforce by 1.1% in the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after acquiring an additional 121,436 shares during the period. Finally, Norges Bank bought a new position in Salesforce in the 4th quarter valued at about $2,762,331,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.3 %

CRM opened at $231.94 on Friday. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $224.75 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.04 and a beta of 1.25. The company has a fifty day moving average price of $268.79 and a two-hundred day moving average price 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. Analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays lowered their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Robert W. Baird lowered their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. TD Cowen lowered their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $300.00 target price (down from $360.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

View Our Latest Research Report on Salesforce

Insider Buying and Selling

In related news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 634,670 shares of company stock worth $178,310,008. 3.20% of the stock is owned by insiders.

Salesforce Company 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.