Outlook Wealth Advisors LLC Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Outlook Wealth Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,139 shares of the CRM provider’s stock, valued at approximately $241,000.

A number of other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. increased its holdings in shares of Salesforce by 8.7% during the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after purchasing an additional 357 shares during the period. Roundview Capital LLC increased its position in shares of Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after purchasing an additional 3,809 shares during the period. Covestor Ltd raised its stake in Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after purchasing an additional 186 shares in the last quarter. Ergoteles LLC bought a new stake in Salesforce during the first quarter worth about $455,000. Finally, Mackenzie Financial Corp increased its holdings in Salesforce by 21.3% in the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after buying an additional 151,440 shares during the period. Institutional investors own 77.52% of the company’s stock.

Salesforce Trading Down 1.9 %

Shares of Salesforce stock opened at $214.61 on Friday. 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 market cap 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, Inc. has a 12-month low of $126.34 and a 12-month high of $238.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 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 firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of Salesforce from $220.00 to $229.00 in a research note on Thursday, August 31st. Wells Fargo & Company boosted their target price on Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. BMO Capital Markets lifted their price target on shares of Salesforce from $255.00 to $262.00 and gave the company an “outperform” rating in a report on Thursday, August 31st. Oppenheimer raised their target price on shares of Salesforce from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Finally, Loop Capital increased their price target on Salesforce from $215.00 to $230.00 and gave the company a “hold” rating in a research note on Thursday, August 31st. One investment 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.59.

Insiders Place Their Bets

In related 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 owns 35,107 shares in the company, valued at approximately $7,471,120.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $16,636,837.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 16,275 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $212.81, for a total transaction 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 approximately $7,471,120.67. The disclosure for this sale can be found here. Insiders sold a total of 698,191 shares of company stock valued at $152,203,804 over the last 90 days. Insiders own 3.70% of the company’s stock.

Salesforce Company 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.