Adviser Investments LLC Has $459,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Adviser Investments LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 24.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,779 shares of the CRM provider’s stock after purchasing an additional 550 shares during the period. Adviser Investments LLC’s holdings in Salesforce were worth $459,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CRM. Vectors Research Management LLC raised its stake in Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after buying an additional 58 shares during the last quarter. MCF Advisors LLC acquired a new stake in Salesforce in the first quarter valued at approximately $30,000. FSC Wealth Advisors LLC grew its position in Salesforce by 1,350.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after purchasing an additional 135 shares during the last quarter. Verity Asset Management Inc. acquired a new position in shares of Salesforce in the first quarter valued at about $35,000. Finally, Retirement Group LLC increased its holdings in Salesforce by 65.5% in the 1st quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock worth $39,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 77.02% of the company’s stock.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 568 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $177.87, for a total value of $101,030.16. Following the transaction, the insider now owns 93,650 shares of the company’s stock, valued at $16,657,525.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Amy E. Weaver sold 516 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $177.86, for a total transaction of $91,775.76. Following the sale, the chief financial officer now directly owns 30,486 shares of the company’s stock, valued at $5,422,239.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 568 shares of Salesforce stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $177.87, for a total transaction of $101,030.16. Following the transaction, the insider now directly owns 93,650 shares of the company’s stock, valued at $16,657,525.50. The disclosure for this sale can be found here. Insiders have sold 71,246 shares of company stock worth $12,337,917 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $150.15 on Friday. Salesforce, Inc. has a one year low of $147.51 and a one year high of $311.75. The stock has a market cap of $150.15 billion, a P/E ratio of 278.06, a P/E/G ratio of 4.01 and a beta of 1.12. The company has a fifty day moving average price of $171.85 and a two-hundred day moving average price of $178.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06.

Salesforce (NYSE:CRMGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.15. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 2.2 EPS for the current year.

Salesforce announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 24th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

CRM has been the topic of several research reports. Canaccord Genuity Group decreased their price target on shares of Salesforce from $260.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Wells Fargo & Company decreased their price target on shares of Salesforce from $235.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, August 25th. Truist Financial lowered their price objective on Salesforce from $330.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Cowen reduced their price target on shares of Salesforce from $225.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, August 25th. Finally, JPMorgan Chase & Co. decreased their target price on Salesforce from $275.00 to $245.00 and set an “overweight” rating on the stock in a research report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.12.

Salesforce Profile

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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