Empower Advisory Group LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 595,538 shares of the CRM provider’s stock, valued at approximately $117,017,000. Empower Advisory Group LLC owned about 0.06% of Salesforce as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. NewSquare Capital LLC increased its holdings in shares of Salesforce by 132.8% during the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Live Oak Investment Partners acquired a new stake in shares of Salesforce during the fourth quarter valued at about $36,000. Delta Asset Management LLC TN bought a new stake in shares of Salesforce during the fourth quarter worth about $39,000. Finally, HBC Financial Services PLLC increased its stake in shares of Salesforce by 350.0% in the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after buying an additional 175 shares during the period. 77.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Mizuho boosted their target price on shares of Salesforce from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. Needham & Company LLC restated a “buy” rating and issued a $250.00 price objective on shares of Salesforce in a report on Thursday, August 31st. TD Cowen lifted their target price on Salesforce from $210.00 to $230.00 and gave the stock a “market perform” rating in a report on Thursday, August 31st. Piper Sandler increased their price target on Salesforce from $248.00 to $268.00 and gave the company an “overweight” rating in a research note on Thursday, August 31st. Finally, Roth Mkm lifted their price objective on Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.86.
Salesforce Stock Down 0.6 %
Shares of CRM traded down $1.41 during trading hours on Wednesday, reaching $220.25. 999,849 shares of the stock traded hands, compared to its average volume of 7,017,766. Salesforce, Inc. has a 52 week low of $126.34 and a 52 week high of $238.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $217.87 and a 200 day simple moving average of $205.57. The company has a market cap of $214.30 billion, a price-to-earnings ratio of 139.40, a PEG ratio of 1.68 and a beta of 1.19.
Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 5.86 EPS for the current year.
In related news, CFO Amy E. Weaver sold 24,281 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $212.35, for a total transaction of $5,156,070.35. Following the completion of the transaction, the chief financial officer now owns 34,180 shares in the company, valued at $7,258,123. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Amy E. Weaver sold 24,281 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $212.35, for a total value of $5,156,070.35. Following the transaction, the chief financial officer now owns 34,180 shares in the company, valued at $7,258,123. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 16,275 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $212.81, for a total value of $3,463,482.75. Following the completion of the sale, the chief financial officer now directly owns 35,107 shares of the company’s stock, valued at $7,471,120.67. The disclosure for this sale can be found here. Insiders sold a total of 707,472 shares of company stock valued at $154,064,224 in the last ninety days. 3.70% of the stock is currently owned by insiders.
Salesforce Company 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 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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