CRM

Salesforce, Inc. (NYSE:CRM) Shares Bought by Regal Investment Advisors LLC

June 12, 2024

25 4 minutes read

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Regal Investment Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,246 shares of the CRM provider’s stock after buying an additional 71 shares during the period. Regal Investment Advisors LLC’s holdings in Salesforce were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its stake in Salesforce by 3.0% in the fourth quarter. State of Tennessee Treasury Department now owns 425,135 shares of the CRM provider’s stock valued at $111,870,000 after buying an additional 12,374 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Salesforce by 4.2% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 84,949 shares of the CRM provider’s stock worth $22,353,000 after acquiring an additional 3,429 shares in the last quarter. Core Wealth Advisors Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $2,559,000. Generation Investment Management LLP lifted its position in shares of Salesforce by 16.1% during the 4th quarter. Generation Investment Management LLP now owns 2,021,233 shares of the CRM provider’s stock worth $531,867,000 after buying an additional 279,634 shares during the last quarter. Finally, Mosley Wealth Management purchased a new stake in Salesforce in the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.3 %

Shares of NYSE:CRM opened at $241.09 on Wednesday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock’s 50-day moving average price is $272.87 and its two-hundred day moving average price is $277.15. 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 firm has a market cap of $233.62 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 2.12 and a beta of 1.26.

Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings results 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 company 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%. Salesforce’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRM. Evercore ISI lowered their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Jefferies Financial Group reduced their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Barclays dropped their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock 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 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Read Our Latest Stock Analysis on Salesforce

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total value of $1,258,320.00. Following the transaction, the insider now owns 104,904 shares of the company’s stock, valued at approximately $31,429,238.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on 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 directly owns 104,904 shares in the company, valued at approximately $31,429,238.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the stock in a transaction 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 owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Insiders have sold 640,870 shares of company stock valued at $180,640,848 in the last three months. Corporate insiders own 3.20% of the company’s stock.

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.