Richelieu Gestion SA Has $2.19 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Richelieu Gestion SA trimmed its position in Salesforce, Inc. (NYSE:CRM) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,351 shares of the CRM provider’s stock after selling 1,594 shares during the quarter. Richelieu Gestion SA’s holdings in Salesforce were worth $2,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in shares of Salesforce during the 2nd quarter worth about $412,000. Ignite Planners LLC grew its position in shares of Salesforce by 7.4% during the 2nd quarter. Ignite Planners LLC now owns 1,279 shares of the CRM provider’s stock worth $268,000 after buying an additional 88 shares during the period. Pioneer Trust Bank N A OR lifted its holdings in shares of Salesforce by 14.0% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 16,595 shares of the CRM provider’s stock valued at $3,506,000 after purchasing an additional 2,040 shares in the last quarter. Juncture Wealth Strategies LLC bought a new position in shares of Salesforce during the 2nd quarter valued at about $605,000. Finally, Thrive Wealth Management LLC lifted its holdings in shares of Salesforce by 1.5% during the 2nd quarter. Thrive Wealth Management LLC now owns 5,621 shares of the CRM provider’s stock valued at $1,187,000 after purchasing an additional 82 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Northland Securities lifted their price objective on Salesforce from $210.00 to $220.00 and gave the company a “market perform” rating in a report on Friday, September 1st. StockNews.com upgraded Salesforce from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 31st. Robert W. Baird lifted their price objective on Salesforce from $210.00 to $220.00 and gave the company a “neutral” 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. Finally, Sanford C. Bernstein boosted their target price on Salesforce from $145.00 to $153.00 in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.59.

Salesforce Price Performance

CRM stock traded up $0.93 during mid-day trading on Monday, hitting $215.54. The stock had a trading volume of 1,705,538 shares, compared to its average volume of 7,007,046. 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, Inc. has a 52 week low of $126.34 and a 52 week high of $238.22. The firm has a market capitalization of $209.72 billion, a P/E ratio of 135.25, a P/E/G ratio of 1.66 and a beta of 1.19. The firm has a fifty day simple moving average of $218.24 and a 200 day simple moving average of $206.68.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping 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 firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the firm posted $0.52 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 5.86 EPS for the current year.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $219.71, for a total value of $3,295,650.00. Following the sale, the chief executive officer now owns 15,816,166 shares of the company’s stock, valued at approximately $3,474,969,831.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $219.71, for a total transaction of $3,295,650.00. Following the sale, the chief executive officer now owns 15,816,166 shares of the company’s stock, valued at approximately $3,474,969,831.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $225.73, for a total transaction of $2,257,300.00. Following the sale, the insider now directly owns 57,443 shares in the company, valued at approximately $12,966,608.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 698,191 shares of company stock worth $152,203,804. Insiders own 3.70% of the company’s stock.

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.