Sivia Capital Partners LLC Takes $669,000 Position in Salesforce, Inc. (NYSE:CRM)

Sivia Capital Partners LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,542 shares of the CRM provider’s stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce in the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the fourth quarter valued at approximately $31,000. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth approximately $34,000. Finally, Pacifica Partners Inc. boosted its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.0 %

Shares of NYSE:CRM traded down $2.40 during trading on Monday, reaching $229.54. The stock had a trading volume of 4,667,697 shares, compared to its average volume of 6,713,294. 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 $222.42 billion, a P/E ratio of 41.39, a PEG ratio of 2.04 and a beta of 1.26. The firm’s 50-day simple moving average is $268.79 and its 200 day simple moving average is $277.27. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The business 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction that occurred 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 directly owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 634,670 shares of company stock valued at $178,310,008. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target 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. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. Sanford C. Bernstein raised their price target on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. Piper Sandler lowered their price objective on Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, DA Davidson cut their target price 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

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.