OneAscent Wealth Management LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,913 shares of the CRM provider’s stock, valued at approximately $404,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Clarus Wealth Advisors acquired a new stake in Salesforce during the second quarter worth approximately $487,000. Thomasville National Bank lifted its holdings in Salesforce by 0.9% during the 2nd quarter. Thomasville National Bank now owns 103,276 shares of the CRM provider’s stock worth $21,818,000 after purchasing an additional 917 shares during the last quarter. Single Point Partners LLC bought a new stake in Salesforce in the 2nd quarter valued at $284,000. Delta Financial Group Inc. bought a new position in Salesforce during the 2nd quarter worth $237,000. Finally, AE Wealth Management LLC lifted its holdings in shares of Salesforce by 3.5% during the second quarter. AE Wealth Management LLC now owns 99,408 shares of the CRM provider’s stock worth $21,001,000 after buying an additional 3,316 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on CRM shares. Roth Mkm raised their price target on shares of Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. Jefferies Financial Group boosted their price target on Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, August 31st. Sanford C. Bernstein raised their price objective on Salesforce from $145.00 to $153.00 in a research note on Thursday, June 1st. BMO Capital Markets upped their target price on Salesforce from $255.00 to $262.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Finally, Northland Securities raised 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $240.59.
Insider Buying and Selling at Salesforce
In other news, COO Brian Millham sold 78,870 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $210.94, for a total transaction of $16,636,837.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Parker Harris sold 1,250 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $208.65, for a total transaction of $260,812.50. Following the transaction, the insider now owns 100,309 shares of the company’s stock, valued at approximately $20,929,472.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 78,870 shares of the business’s 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 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. 3.70% of the stock is currently owned by company insiders.
Salesforce Trading Down 1.9 %
Shares of NYSE CRM traded down $4.17 during midday trading on Friday, reaching $214.61. The stock had a trading volume of 9,939,044 shares, compared to its average volume of 7,037,322. The company’s 50 day moving average price is $218.14 and its 200 day moving average price is $205.75. 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 twelve month low of $126.34 and a twelve month high of $238.22. The firm has a market cap of $208.82 billion, a price-to-earnings ratio of 134.97, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. Salesforce’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 5.86 EPS 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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