IFM Investors Pty Ltd Grows Position in Salesforce, Inc. (NYSE:CRM)

IFM Investors Pty Ltd lifted its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 22.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,668 shares of the CRM provider’s stock after purchasing an additional 28,461 shares during the quarter. IFM Investors Pty Ltd’s holdings in Salesforce were worth $33,264,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vectors Research Management LLC boosted its holdings in shares of Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 58 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Salesforce during the fourth quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Salesforce during the fourth quarter worth about $42,000. Rise Advisors LLC acquired a new position in shares of Salesforce during the fourth quarter worth about $53,000. Finally, Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 111.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 211 shares of the CRM provider’s stock worth $54,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $184.02 on Monday. The stock has a market capitalization of $183.10 billion, a P/E ratio of 178.66, a P/E/G ratio of 4.68 and a beta of 1.08. Salesforce, Inc. has a 1 year low of $154.55 and a 1 year high of $311.75. The business’s fifty day moving average is $172.45 and its two-hundred day moving average is $190.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The firm’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $178.74, for a total transaction of $411,102.00. Following the sale, the chief executive officer now directly owns 27,761,368 shares of the company’s stock, valued at approximately $4,962,066,916.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 924 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $157,477.32. Following the sale, the chief financial officer now directly owns 29,989 shares of the company’s stock, valued at approximately $5,111,025.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $178.74, for a total transaction of $411,102.00. Following the sale, the chief executive officer now directly owns 27,761,368 shares in the company, valued at $4,962,066,916.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,449 shares of company stock valued at $12,868,555. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus dropped their target price on Salesforce from $300.00 to $250.00 in a research report on Wednesday, June 1st. Roth Capital raised Salesforce from a “neutral” rating to a “buy” rating and set a $242.00 price objective for the company in a report on Wednesday, May 18th. Citigroup boosted their price objective on Salesforce to $192.00 in a report on Friday, June 3rd. Credit Suisse Group lowered their price objective on Salesforce from $375.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, June 1st. Finally, Loop Capital lowered their price objective on Salesforce from $225.00 to $175.00 and set a “hold” rating for the company in a report on Thursday, June 2nd. Four research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $270.51.

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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