966 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Abel Hall LLC

Abel Hall LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 966 shares of the CRM provider’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors raised its stake in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after acquiring an additional 457,463 shares during the period. Fisher Asset Management LLC grew its position in Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after purchasing an additional 752,566 shares during the last quarter. Capital International Investors grew its position in Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Northern Trust Corp grew its position in Salesforce by 1.1% in the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after purchasing an additional 121,436 shares during the last quarter. Finally, Norges Bank bought a new position in Salesforce in the 4th quarter worth about $2,762,331,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $299.59, for a total value of $4,493,850.00. Following the transaction, the chief executive officer now directly owns 13,131,166 shares in the company, valued at approximately $3,933,966,021.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $299.59, for a total transaction of $4,493,850.00. Following the completion of the transaction, the chief executive officer now directly owns 13,131,166 shares of the company’s stock, valued at approximately $3,933,966,021.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the transaction, the insider now directly owns 104,904 shares of the company’s stock, valued at $31,429,238.40. The disclosure for this sale can be found here. Insiders have sold a total of 634,670 shares of company stock worth $178,310,008 in the last 90 days. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

CRM has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Macquarie decreased their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. decreased their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Evercore ISI decreased their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Stock Up 1.3 %

CRM stock traded up $2.91 during midday trading on Friday, reaching $231.94. The company had a trading volume of 8,833,734 shares, compared to its average volume of 12,624,135. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $224.75 billion, a P/E ratio of 41.72, a PEG ratio of 2.04 and a beta of 1.25. The company has a 50 day moving average of $268.79 and a two-hundred day moving average of $276.94.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping 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 company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business posted $1.15 EPS. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal 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.