Salesforce, Inc. (NYSE:CRM) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA reduced its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 62.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,480 shares of the CRM provider’s stock after selling 2,500 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Salesforce were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. raised its stake in shares of Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after acquiring an additional 357 shares in the last quarter. Roundview Capital LLC raised its stake in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after buying an additional 3,809 shares in the last quarter. Covestor Ltd raised its stake in Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after buying an additional 186 shares in the last quarter. Ergoteles LLC acquired a new stake in Salesforce in the first quarter valued at $455,000. Finally, Mackenzie Financial Corp raised its stake in Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after buying an additional 151,440 shares in the last quarter. 77.52% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

CRM opened at $291.30 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $281.98 billion, a P/E ratio of 110.46, a PEG ratio of 1.87 and a beta of 1.28. Salesforce, Inc. has a 52 week low of $159.65 and a 52 week high of $295.24. The business’s fifty day simple moving average is $268.45 and its 200 day simple moving average is $232.61.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. Salesforce had a return on equity of 9.19% and a net margin of 7.63%. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 6.02 EPS for the current fiscal year.

Insider Activity

In related news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $223.11, for a total transaction of $2,231,100.00. Following the completion of the sale, the insider now directly owns 58,930 shares of the company’s stock, valued at approximately $13,147,872.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $223.11, for a total transaction of $2,231,100.00. Following the completion of the transaction, the insider now owns 58,930 shares in the company, valued at $13,147,872.30. The disclosure for this sale can be found here. Insiders have sold 1,383,178 shares of company stock valued at $365,653,525 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. BMO Capital Markets lifted their target price on Salesforce from $252.00 to $277.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. Royal Bank of Canada lifted their target price on Salesforce from $240.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. Needham & Company LLC lifted their target price on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. Finally, JPMorgan Chase & Co. lifted their target price on Salesforce from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, November 30th. Nine analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $264.03.

Read Our Latest Analysis on CRM

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 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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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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