Quent Capital LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Quent Capital LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,502 shares of the CRM provider’s stock after purchasing an additional 81 shares during the quarter. Quent Capital LLC’s holdings in Salesforce were worth $529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC raised its position 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 acquiring an additional 85 shares during the period. GHP Investment Advisors Inc. raised its position 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 during the period. Live Oak Investment Partners bought a new stake in Salesforce in the fourth quarter worth about $36,000. Delta Asset Management LLC TN bought a new stake in Salesforce in the fourth quarter worth about $39,000. Finally, HBC Financial Services PLLC raised its position in 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 acquiring an additional 175 shares during the period. 77.52% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of Salesforce stock opened at $214.61 on Friday. The company has a fifty day moving average of $218.24 and a 200-day moving average of $206.41. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $238.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization 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) last posted its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 5.86 EPS for the current year.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 164 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $225.05, for a total transaction of $36,908.20. Following the completion of the sale, the chief accounting officer now directly owns 2,230 shares in the company, valued at approximately $501,861.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $234.71, for a total value of $3,520,650.00. Following the completion of the transaction, the chief executive officer now directly owns 16,401,166 shares in the company, valued at approximately $3,849,517,671.86. 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 company’s stock in a transaction on 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 owns 2,230 shares of the company’s stock, valued at $501,861.50. The disclosure for this sale can be found here. Insiders sold 698,191 shares of company stock worth $152,203,804 in the last three months. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. Roth Mkm lifted their price objective 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. Roth Capital reaffirmed a “buy” rating on shares of Salesforce in a research report on Thursday, June 1st. Mizuho boosted their price target on shares of Salesforce from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Evercore ISI boosted their price target on shares of Salesforce from $240.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Finally, Citigroup boosted their price target on shares of Salesforce from $220.00 to $229.00 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $240.59.

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.