Salesforce, Inc. (NYSE:CRM) Shares Acquired by HBW Advisory Services LLC

HBW Advisory Services LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,909 shares of the CRM provider’s stock after purchasing an additional 255 shares during the quarter. Salesforce accounts for approximately 1.1% of HBW Advisory Services LLC’s portfolio, making the stock its 16th largest holding. HBW Advisory Services LLC’s holdings in Salesforce were worth $5,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in Salesforce by 0.9% in the 1st quarter. State Street Corp now owns 45,509,345 shares of the CRM provider’s stock valued at $9,091,832,000 after acquiring an additional 391,648 shares during the period. FMR LLC grew its stake in Salesforce by 1.9% in the 1st quarter. FMR LLC now owns 36,357,722 shares of the CRM provider’s stock valued at $7,263,546,000 after acquiring an additional 695,355 shares during the period. Morgan Stanley grew its stake in Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock valued at $2,519,719,000 after acquiring an additional 149,012 shares during the period. Geode Capital Management LLC grew its stake in Salesforce by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 17,749,285 shares of the CRM provider’s stock valued at $3,536,910,000 after acquiring an additional 332,375 shares during the period. Finally, Wellington Management Group LLP grew its stake in Salesforce by 21.3% in the 1st quarter. Wellington Management Group LLP now owns 14,134,170 shares of the CRM provider’s stock valued at $2,823,724,000 after acquiring an additional 2,481,759 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.

Salesforce Trading Up 0.5 %

NYSE CRM traded up $1.02 during trading on Thursday, hitting $219.82. The stock had a trading volume of 869,138 shares, compared to its average volume of 7,001,189. The company has a market capitalization of $213.88 billion, a PE ratio of 137.63, a PEG ratio of 1.68 and a beta of 1.19. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $217.87 and a 200 day moving average price of $205.57. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month 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, beating 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 company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the previous year, the company posted $0.52 EPS. Salesforce’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 164 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $225.05, for a total transaction of $36,908.20. Following the completion of the transaction, the chief accounting officer now directly owns 2,230 shares of the company’s stock, valued at $501,861.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 164 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the transaction, the chief accounting officer now directly owns 2,230 shares of the company’s stock, valued at $501,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $224.81, for a total value of $3,372,150.00. Following the completion of the transaction, the chief executive officer now directly owns 15,846,166 shares of the company’s stock, valued at $3,562,376,578.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 707,472 shares of company stock valued at $154,064,224. 3.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Stifel Nicolaus lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Roth Capital reaffirmed a “buy” rating on shares of Salesforce in a research note on Thursday, June 1st. Piper Sandler lifted their target price on shares of Salesforce from $248.00 to $268.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Finally, Roth Mkm lifted their price target on Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. One 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.86.

About Salesforce

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.