Salesforce, Inc. (NYSE:CRM) Shares Purchased by Gryphon Financial Partners LLC
Gryphon Financial Partners LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,960 shares of the CRM provider’s stock after purchasing an additional 970 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Salesforce were worth $1,064,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Marks Group Wealth Management Inc lifted 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 valued at $9,268,000 after acquiring an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. increased its stake in Salesforce by 1.4% during 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 during the last quarter. Pure Financial Advisors LLC acquired a new stake in Salesforce during the fourth quarter worth $214,000. Lone Pine Capital LLC grew its stake in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Salesforce by 0.8% in the third quarter. Blair William & Co. IL now owns 821,761 shares of the CRM provider’s stock valued at $166,637,000 after buying an additional 6,888 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Insider Activity at Salesforce
In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Srinivas Tallapragada sold 2,890 shares of Salesforce stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $893,934.80. Following the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at $18,687,877.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the sale, the chief executive officer now directly owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 638,070 shares of company stock worth $182,912,726. 3.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on CRM shares. KeyCorp began coverage on Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Jefferies Financial Group lowered their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America upped their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Oppenheimer decreased their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.79.
View Our Latest Stock Analysis on CRM
Salesforce Price Performance
CRM stock opened at $234.52 on Friday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock’s fifty day simple moving average is $281.80 and its 200-day simple moving average is $275.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $227.02 billion, a price-to-earnings ratio of 42.18, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.62% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the firm earned $1.15 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Company Profile
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.
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