B.O.S.S. Retirement Advisors LLC Lowers Stake in Salesforce, Inc. (NYSE:CRM)

B.O.S.S. Retirement Advisors LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,364 shares of the CRM provider’s stock after selling 1,009 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in Salesforce were worth $1,767,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CRM. Fairfield Bush & CO. boosted its holdings in shares of Salesforce by 8.7% during the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after purchasing an additional 357 shares during the last quarter. Roundview Capital LLC lifted its holdings in shares of Salesforce by 18.8% in the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after acquiring an additional 3,809 shares during the last quarter. Covestor Ltd raised its holdings in shares of Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after buying an additional 186 shares during the period. Ergoteles LLC purchased a new stake in shares of Salesforce in the first quarter worth approximately $455,000. Finally, Mackenzie Financial Corp grew its stake in Salesforce by 21.3% in the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after acquiring an additional 151,440 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CRM shares. Bank of America boosted their price target on Salesforce from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 31st. Roth Capital restated a “buy” rating on shares of Salesforce in a research note on Thursday, June 1st. Mizuho upped their price objective on shares of Salesforce from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Robert W. Baird increased their target price on shares of Salesforce from $210.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 31st. Finally, Raymond James increased their target price on shares of Salesforce from $260.00 to $280.00 and gave the stock a “strong-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-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.59.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction on 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 owns 2,230 shares of the company’s stock, valued at approximately $501,861.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the business’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 transaction of $3,295,650.00. Following the completion of the sale, the chief executive officer now directly owns 15,816,166 shares in the company, valued at $3,474,969,831.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 164 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were 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 owns 2,230 shares in the company, valued at approximately $501,861.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 698,191 shares of company stock valued at $152,203,804. 3.70% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM traded down $4.17 during trading hours on Friday, hitting $214.61. The stock had a trading volume of 9,939,044 shares, compared to its average volume of 7,037,322. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $238.22. The firm has a 50-day moving average price of $218.14 and a 200 day moving average price of $205.75. The firm has a market capitalization of $208.82 billion, a price-to-earnings ratio of 134.97, a PEG ratio of 1.66 and a beta of 1.19.

Salesforce (NYSE:CRM) last announced its quarterly 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 firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Salesforce’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 5.86 EPS for the current 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.