CreativeOne Wealth LLC grew its holdings in Salesforce, Inc. (NYSE:CRM – Get Rating) by 9.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,973 shares of the CRM provider’s stock after acquiring an additional 601 shares during the quarter. CreativeOne Wealth LLC’s holdings in Salesforce were worth $1,003,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Wellington Shields & Co. LLC grew its holdings in Salesforce by 4.4% in the 2nd quarter. Wellington Shields & Co. LLC now owns 1,301 shares of the CRM provider’s stock valued at $215,000 after buying an additional 55 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Salesforce by 5.0% in the second quarter. AlphaCore Capital LLC now owns 1,368 shares of the CRM provider’s stock worth $226,000 after acquiring an additional 65 shares during the last quarter. Wealth Architects LLC increased its position in Salesforce by 4.4% during the first quarter. Wealth Architects LLC now owns 1,537 shares of the CRM provider’s stock worth $326,000 after acquiring an additional 65 shares during the period. Oakworth Capital Inc. raised its stake in Salesforce by 5.8% during the 3rd quarter. Oakworth Capital Inc. now owns 1,205 shares of the CRM provider’s stock valued at $173,000 after purchasing an additional 66 shares during the last quarter. Finally, Saturna Capital CORP boosted its holdings in Salesforce by 1.6% in the 3rd quarter. Saturna Capital CORP now owns 4,502 shares of the CRM provider’s stock valued at $648,000 after purchasing an additional 70 shares during the period. 75.83% of the stock is currently owned by institutional investors.
Salesforce Trading Up 4.2 %
CRM opened at $182.89 on Wednesday. The firm’s fifty day moving average is $163.66 and its two-hundred day moving average is $153.24. The firm has a market cap of $182.89 billion, a PE ratio of 870.90, a price-to-earnings-growth ratio of 2.12 and a beta of 1.21. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $222.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02.
Salesforce (NYSE:CRM – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.36 by $0.32. Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 4.88 EPS for the current year.
Salesforce announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 1st that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Insider Activity at Salesforce
In other Salesforce news, CAO Sundeep G. Reddy sold 186 shares of Salesforce stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total value of $28,939.74. Following the transaction, the chief accounting officer now owns 1,273 shares of the company’s stock, valued at $198,066.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 186 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $155.59, for a total value of $28,939.74. Following the sale, the chief accounting officer now directly owns 1,273 shares in the company, valued at $198,066.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 924 shares of the stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $128.55, for a total value of $118,780.20. Following the transaction, the chief financial officer now owns 32,807 shares of the company’s stock, valued at $4,217,339.85. The disclosure for this sale can be found here. In the last three months, insiders sold 37,293 shares of company stock worth $6,285,082. 3.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
CRM has been the topic of a number of analyst reports. Cowen cut shares of Salesforce from an “outperform” rating to a “market perform” rating in a research note on Friday, January 20th. Needham & Company LLC raised shares of Salesforce from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a report on Thursday, March 2nd. Loop Capital increased their price target on Salesforce from $150.00 to $190.00 and gave the stock a “hold” rating in a research report on Thursday, March 2nd. Mizuho lifted their price objective on Salesforce from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, Oppenheimer increased their target price on Salesforce from $185.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $211.24.
Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM – Get Rating).
Receive News & Ratings for Salesforce Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Salesforce and related companies with MarketBeat.com’s FREE daily email newsletter.