Salesforce, Inc. (NYSE:CRM) Shares Acquired by IFM Investors Pty Ltd

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

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Vectors Research Management LLC raised its holdings in 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 in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in Salesforce during the fourth quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Salesforce during the fourth quarter worth approximately $42,000. Rise Advisors LLC bought a new stake in Salesforce during the fourth quarter worth approximately $53,000. Finally, Capital Advisors Ltd. LLC raised its holdings in 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 purchasing an additional 111 shares in the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $178.74, for a total value of $411,102.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $4,962,066,916.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $4,962,066,916.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Gavin Patterson sold 1,273 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $216,957.39. Following the sale, the executive now directly owns 16,263 shares of the company’s stock, valued at approximately $2,771,703.09. The disclosure for this sale can be found here. Insiders sold 75,449 shares of company stock valued at $12,868,555 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Salesforce Stock Up 1.5 %

Shares of CRM opened at $184.02 on Monday. The company has a 50-day simple moving average of $172.45 and a 200-day simple moving average of $190.10. The firm 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. 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, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75.

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

Analysts Set New Price Targets

CRM has been the topic of several research reports. OTR Global cut Salesforce to a “positive” rating in a report on Thursday, May 12th. Barclays upped their price target on Salesforce from $208.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, June 1st. Morgan Stanley dropped their price target on Salesforce from $360.00 to $291.00 in a report on Monday, May 16th. William Blair reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday, June 1st. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $300.00 to $250.00 in a research note on Wednesday, June 1st. Four analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.51.

Salesforce Company 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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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