Salesforce, Inc. (NYSE:CRM) Position Raised by Thrive Wealth Management LLC

Thrive Wealth Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,621 shares of the CRM provider’s stock after purchasing an additional 82 shares during the period. Thrive Wealth Management LLC’s holdings in Salesforce were worth $1,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Walkner Condon Financial Advisors LLC raised its position in shares of Salesforce by 2.0% during the first quarter. Walkner Condon Financial Advisors LLC now owns 2,599 shares of the CRM provider’s stock valued at $519,000 after buying an additional 51 shares during the last quarter. Western Pacific Wealth Management LP raised its position in Salesforce by 1.2% in the first quarter. Western Pacific Wealth Management LP now owns 4,545 shares of the CRM provider’s stock worth $908,000 after purchasing an additional 53 shares in the last quarter. Hyperion Partners LLC raised its position in Salesforce by 3.3% in the second quarter. Hyperion Partners LLC now owns 1,661 shares of the CRM provider’s stock worth $351,000 after purchasing an additional 53 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Salesforce by 0.6% in the first quarter. Koshinski Asset Management Inc. now owns 9,715 shares of the CRM provider’s stock worth $1,941,000 after purchasing an additional 54 shares in the last quarter. Finally, Argent Advisors Inc. raised its position in Salesforce by 1.1% in the first quarter. Argent Advisors Inc. now owns 4,952 shares of the CRM provider’s stock worth $989,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 77.52% of the company’s stock.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction dated 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 owns 2,230 shares of the company’s stock, valued at approximately $501,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 15,816,166 shares in the company, valued at approximately $3,474,969,831.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction dated 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 sale, the chief accounting officer now owns 2,230 shares of the company’s stock, valued at approximately $501,861.50. 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 in the last quarter. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.8 %

Salesforce stock traded up $1.73 during mid-day trading on Monday, reaching $216.34. The company’s stock had a trading volume of 561,010 shares, compared to its average volume of 7,000,335. The company has a market capitalization of $210.50 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, Inc. has a 12 month low of $126.34 and a 12 month high of $238.22. The business’s 50 day simple moving average is $218.24 and its 200 day simple moving average is $206.68. 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 (NYSE:CRM) last announced its quarterly earnings data 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 the consensus estimate of $8.53 billion. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Bank of America upped their price objective on shares of Salesforce from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. TD Cowen upped their price objective on shares of Salesforce from $210.00 to $230.00 and gave the stock a “market perform” rating in a research note on Thursday, August 31st. JMP Securities reissued a “market outperform” rating and set a $275.00 price target on shares of Salesforce in a research note on Thursday, August 31st. Finally, UBS Group increased their price target on shares of Salesforce from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target 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.