Salesforce, Inc. (NYSE:CRM) Shares Sold by American International Group Inc.

American International Group Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM – Get Rating) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,722 shares of the CRM provider’s stock after selling 10,190 shares during the period. American International Group Inc.’s holdings in Salesforce were worth $39,210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Avory & Company LLC lifted its position in shares of Salesforce by 1.8% during the 4th quarter. Avory & Company LLC now owns 3,441 shares of the CRM provider’s stock worth $456,000 after buying an additional 60 shares during the last quarter. Roman Butler Fullerton & Co. lifted its position in shares of Salesforce by 4.3% during the 4th quarter. Roman Butler Fullerton & Co. now owns 1,547 shares of the CRM provider’s stock worth $230,000 after buying an additional 64 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in shares of Salesforce by 1.0% during the 4th quarter. Ameritas Advisory Services LLC now owns 6,604 shares of the CRM provider’s stock worth $876,000 after buying an additional 64 shares during the last quarter. Wealth Architects LLC lifted its position in shares of Salesforce by 4.4% during the 1st quarter. Wealth Architects LLC now owns 1,537 shares of the CRM provider’s stock worth $326,000 after buying an additional 65 shares during the last quarter. Finally, Saturna Capital CORP lifted its holdings in shares of Salesforce by 1.6% in the 3rd quarter. Saturna Capital CORP now owns 4,502 shares of the CRM provider’s stock valued at $648,000 after purchasing an additional 70 shares during the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Salesforce stock traded up $5.66 during midday trading on Friday, reaching $215.57. 3,219,906 shares of the company were exchanged, compared to its average volume of 7,489,001. The company has a market capitalization of $211.44 billion, a price-to-earnings ratio of 999.62, a P/E/G ratio of 2.56 and a beta of 1.24. The firm’s 50-day simple moving average is $197.11 and its 200-day simple moving average is $168.94. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $216.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02.

Salesforce (NYSE:CRM – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.32. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, analysts anticipate that Salesforce, Inc. will post 4.88 EPS for the current year.

Salesforce announced that its Board of Directors has initiated a share buyback program on Wednesday, March 1st that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the CRM provider to buy up to 10.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $207.74, for a total value of $259,675.00. Following the completion of the sale, the insider now owns 100,309 shares in the company, valued at approximately $20,838,191.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Marc Benioff sold 725 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $163.07, for a total transaction of $118,225.75. Following the completion of the sale, the chief executive officer now directly owns 27,753,609 shares of the company’s stock, valued at approximately $4,525,781,019.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 1,250 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $207.74, for a total transaction of $259,675.00. Following the sale, the insider now directly owns 100,309 shares of the company’s stock, valued at $20,838,191.66. The disclosure for this sale can be found here. In the last three months, insiders sold 45,356 shares of company stock valued at $8,542,009. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Salesforce from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Atlantic Securities upped their price objective on Salesforce from $140.00 to $200.00 in a research note on Thursday, March 2nd. Bank of America upped their price objective on Salesforce from $235.00 to $250.00 in a research note on Wednesday, May 17th. Northland Securities upped their price objective on Salesforce from $150.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, March 2nd. Finally, Needham & Company LLC upgraded shares of Salesforce from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.14.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.