SOA Wealth Advisors LLC. lessened its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,939 shares of the CRM provider’s stock after selling 215 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Salesforce were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC grew its holdings in Salesforce by 132.8% in the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares during the period. GHP Investment Advisors Inc. boosted 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 worth $36,000 after acquiring an additional 63 shares in the last quarter. Live Oak Investment Partners purchased a new stake in shares of Salesforce in the fourth quarter worth $36,000. Delta Asset Management LLC TN bought a new stake in Salesforce during the 4th quarter valued at about $39,000. Finally, HBC Financial Services PLLC lifted 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 worth $39,000 after buying an additional 175 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on CRM shares. Truist Financial reissued a “buy” rating and issued a $275.00 price objective on shares of Salesforce in a report on Wednesday. Northland Securities upped their price target on Salesforce from $210.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. Morgan Stanley downgraded Salesforce from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $251.00 to $278.00 in a research note on Monday, July 31st. Loop Capital lifted their price target on shares of Salesforce from $215.00 to $230.00 and gave the company a “hold” rating in a report on Thursday, August 31st. Finally, TD Cowen raised their price objective on shares of Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $240.59.
In other news, CAO Sundeep G. Reddy sold 164 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $225.05, for a total transaction of $36,908.20. Following the transaction, the chief accounting officer now owns 2,230 shares in the company, valued at $501,861.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Brian Millham sold 78,870 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $210.94, for a total value of $16,636,837.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 164 shares of the firm’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 in the company, valued at $501,861.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 698,191 shares of company stock worth $152,203,804. Corporate insiders own 3.70% of the company’s stock.
Salesforce Stock Down 2.1 %
NYSE:CRM traded down $4.53 during mid-day trading on Friday, reaching $214.25. The company’s stock had a trading volume of 2,325,324 shares, compared to its average volume of 6,992,857. The firm has a market capitalization of $208.47 billion, a PE ratio of 137.60, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19. The stock has a fifty day moving average of $217.97 and a 200-day moving average of $205.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $238.22.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The business 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 business’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. Equities research analysts forecast that Salesforce, Inc. will post 5.86 earnings per share for the current year.
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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