Curbstone Financial Management Corp Has $806,000 Position in Salesforce, Inc. (NYSE:CRM)

Curbstone Financial Management Corp raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,816 shares of the CRM provider’s stock after purchasing an additional 60 shares during the quarter. Curbstone Financial Management Corp’s holdings in Salesforce were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. M&R Capital Management Inc. increased its holdings in shares of Salesforce by 44.2% during the second quarter. M&R Capital Management Inc. now owns 6,506 shares of the CRM provider’s stock worth $1,374,000 after buying an additional 1,994 shares in the last quarter. Darlington Partners Capital Management LP bought a new position in Salesforce in the 1st quarter valued at $137,499,000. Callan Capital LLC acquired a new position in Salesforce in the first quarter worth $209,000. Bradley Mark J. increased its stake in shares of Salesforce by 15.3% in the first quarter. Bradley Mark J. now owns 13,272 shares of the CRM provider’s stock valued at $2,651,000 after buying an additional 1,760 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in shares of Salesforce in the first quarter valued at about $467,000. 77.52% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of Salesforce stock traded up $0.71 on Thursday, reaching $219.51. 557,557 shares of the stock were exchanged, compared to its average volume of 6,999,167. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $213.58 billion, a PE ratio of 137.63, a P/E/G ratio of 1.68 and a beta of 1.19. The firm’s 50 day moving average is $217.87 and its 200-day moving average is $205.57. Salesforce, Inc. has a one year low of $126.34 and a one year high of $238.22.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.22. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 78,870 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $210.94, for a total value of $16,636,837.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, COO Brian Millham sold 78,870 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $210.94, for a total value of $16,636,837.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $225.05, for a total value of $36,908.20. Following the sale, the chief accounting officer now directly owns 2,230 shares in the company, valued at $501,861.50. The disclosure for this sale can be found here. Insiders have sold 707,472 shares of company stock valued at $154,064,224 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Salesforce from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Mizuho increased their price objective on Salesforce from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Roth Capital restated a “buy” rating on shares of Salesforce in a research report on Thursday, June 1st. Truist Financial reiterated a “buy” rating and issued a $275.00 price objective on shares of Salesforce in a research report on Wednesday. Finally, StockNews.com upgraded shares of Salesforce from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.86.

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.