CRM

Salesforce, Inc. (NYSE:CRM) Shares Purchased by Gilbert & Cook Inc.

June 2, 2024

18 4 minutes read

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Gilbert & Cook Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,659 shares of the CRM provider’s stock after acquiring an additional 366 shares during the quarter. Gilbert & Cook Inc.’s holdings in Salesforce were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Salesforce by 23,653.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after buying an additional 1,400,300 shares in the last quarter. Lone Pine Capital LLC grew its holdings in shares of Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Salesforce by 50.1% during the third quarter. Canada Pension Plan Investment Board now owns 1,444,596 shares of the CRM provider’s stock worth $292,935,000 after buying an additional 482,042 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Salesforce by 16.1% during the third quarter. American Century Companies Inc. now owns 3,198,494 shares of the CRM provider’s stock worth $648,591,000 after buying an additional 444,652 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. Macquarie lowered their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday. UBS Group lowered their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Thursday. Evercore ISI lowered their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Morgan Stanley lowered their target price on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday. One investment 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 stock. According to MarketBeat, Salesforce 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 7.5 %

Shares of NYSE:CRM opened at $234.44 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $281.80 and a 200 day simple moving average of $275.97. The firm has a market cap of $227.17 billion, a PE ratio of 42.17, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month 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, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm 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 firm earned $1.15 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the sale, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The disclosure for this sale can be found here. Insiders sold a total of 638,070 shares of company stock worth $182,912,726 over the last 90 days. 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.