Legacy Private Trust Co. Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Legacy Private Trust Co. lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 19.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,381 shares of the CRM provider’s stock after buying an additional 1,694 shares during the period. Legacy Private Trust Co.’s holdings in Salesforce were worth $2,193,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NewSquare Capital LLC boosted its stake in shares of Salesforce by 132.8% in the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares during the period. Live Oak Investment Partners purchased a new position in Salesforce in the fourth quarter worth about $36,000. Delta Asset Management LLC TN bought a new stake in shares of Salesforce during the 4th quarter valued at about $39,000. Finally, HBC Financial Services PLLC increased its position in shares of Salesforce by 350.0% during the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 16,275 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $212.81, for a total value of $3,463,482.75. Following the completion of the transaction, the chief financial officer now owns 35,107 shares in the company, valued at $7,471,120.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Amy E. Weaver sold 16,275 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $7,471,120.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $219.71, for a total value of $3,295,650.00. Following the transaction, the chief executive officer now directly owns 15,816,166 shares of the company’s stock, valued at $3,474,969,831.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 698,191 shares of company stock valued at $152,203,804. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Canaccord Genuity Group boosted their target price on shares of Salesforce from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Wells Fargo & Company upped their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Roth Mkm lifted their target price on Salesforce from $242.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Piper Sandler upped their price target on Salesforce from $248.00 to $268.00 and gave the stock an “overweight” rating in a research report on Thursday, August 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Salesforce from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.59.

Salesforce Stock Down 2.1 %

Shares of NYSE:CRM traded down $4.53 on Friday, reaching $214.25. The company had a trading volume of 2,325,324 shares, compared to its average volume of 6,992,857. 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 firm has a market capitalization of $208.47 billion, a PE ratio of 137.60, a PEG ratio of 1.66 and a beta of 1.19. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $238.22. The firm’s 50 day simple moving average is $217.97 and its 200-day simple moving average is $205.66.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, analysts expect that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

Salesforce 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.