Kraematon Investment Advisors Inc. lowered its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,416 shares of the CRM provider’s stock after selling 185 shares during the period. Kraematon Investment Advisors Inc.’s holdings in Salesforce were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC grew its holdings in shares of Salesforce by 4.5% during the second quarter. MetLife Investment Management LLC now owns 277,596 shares of the CRM provider’s stock worth $58,645,000 after buying an additional 12,071 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Salesforce by 42.2% in the 2nd quarter. Osaic Holdings Inc. now owns 426,738 shares of the CRM provider’s stock valued at $62,236,000 after purchasing an additional 126,547 shares during the last quarter. CV Advisors LLC acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $211,000. Bessemer Group Inc. raised its position in shares of Salesforce by 43.3% during the 2nd quarter. Bessemer Group Inc. now owns 32,092 shares of the CRM provider’s stock valued at $6,779,000 after buying an additional 9,699 shares during the period. Finally, EWA LLC lifted its holdings in Salesforce by 3.9% in the second quarter. EWA LLC now owns 1,405 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 53 shares during the last quarter. 77.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on CRM shares. Oppenheimer raised their target price on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Raymond James upped their target price on shares of Salesforce from $260.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 31st. HSBC began coverage on shares of Salesforce in a research report on Friday, September 15th. They set a “buy” rating and a $267.00 price target for the company. Evercore ISI upped their price objective on shares of Salesforce from $240.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. Finally, TD Cowen lifted their target price on shares of Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.28.
Insider Buying and Selling at Salesforce
In other news, COO Brian Millham sold 1,746 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $209.85, for a total value of $366,398.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other Salesforce news, insider Parker Harris sold 6,250 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $228.00, for a total transaction of $1,425,000.00. Following the transaction, the insider now owns 101,790 shares of the company’s stock, valued at approximately $23,208,120. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 1,746 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $209.85, for a total value of $366,398.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 671,788 shares of company stock worth $141,136,481. 3.70% of the stock is owned by insiders.
Salesforce Price Performance
CRM stock traded up $2.21 during midday trading on Monday, hitting $223.43. 1,463,135 shares of the stock were exchanged, compared to its average volume of 6,422,907. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $217.40 billion, a price-to-earnings ratio of 139.13, a PEG ratio of 1.66 and a beta of 1.18. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $238.22. The stock’s 50-day moving average price is $208.52 and its 200-day moving average price is $211.92.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 5.86 earnings per share 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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.
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