Counterweight Ventures LLC Makes New $283,000 Investment in Salesforce, Inc. (NYSE:CRM)

Counterweight Ventures LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,076 shares of the CRM provider’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce during the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter worth about $31,000. Pacifica Partners Inc. increased its holdings in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Evercore ISI lowered their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Oppenheimer lowered their target price on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Wolfe Research reissued an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group lowered their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 942 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Insiders sold 634,670 shares of company stock valued at $178,310,008 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.3 %

NYSE CRM traded up $2.91 during trading hours on Friday, hitting $231.94. The company’s stock had a trading volume of 8,833,734 shares, compared to its average volume of 12,624,135. The stock has a fifty day moving average of $268.79 and a 200 day moving average of $276.94. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm 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 quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce 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.