Beech Hill Advisors Inc. Has $2.95 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Beech Hill Advisors Inc. lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,975 shares of the CRM provider’s stock after selling 102 shares during the period. Beech Hill Advisors Inc.’s holdings in Salesforce were worth $2,952,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CRM. Fairfield Bush & CO. raised 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 worth $949,000 after buying an additional 357 shares in the last quarter. Roundview Capital LLC grew its position in Salesforce by 18.8% during 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 grew its position in Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after acquiring an additional 186 shares during the last quarter. Ergoteles LLC bought a new stake in Salesforce during the 1st quarter worth $455,000. Finally, Mackenzie Financial Corp grew its position in Salesforce by 21.3% during 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 during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 16,275 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $212.81, for a total transaction of $3,463,482.75. Following the completion of the sale, the chief financial officer now directly owns 35,107 shares of the company’s stock, valued at $7,471,120.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 16,275 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 35,107 shares of the company’s stock, valued at $7,471,120.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 698,191 shares of company stock valued at $152,203,804. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRM. UBS Group boosted their price objective on Salesforce from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 31st. Jefferies Financial Group boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. HSBC assumed coverage on Salesforce in a research report on Friday. They issued a “buy” rating and a $267.00 price target on the stock. StockNews.com upgraded Salesforce from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 31st. Finally, Mizuho upped their price target on Salesforce from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.59.

Salesforce Stock Performance

Shares of Salesforce stock opened at $214.61 on Friday. The company has a market cap of $208.82 billion, a PE ratio of 134.97, a price-to-earnings-growth 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 business has a 50 day moving average price of $218.24 and a 200-day moving average price of $206.41. 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 (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.90 by $0.22. The firm had revenue of $8.60 billion during 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 company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

About Salesforce

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.