Salesforce, Inc. (NYSE:CRM) Position Lowered by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,839 shares of the CRM provider’s stock after selling 281 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Salesforce were worth $3,123,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRM. Nordea Investment Management AB raised its position in shares of Salesforce by 18.3% during the 2nd quarter. Nordea Investment Management AB now owns 1,547,360 shares of the CRM provider’s stock worth $329,387,000 after purchasing an additional 239,786 shares during the period. Financial Management Professionals Inc. lifted its stake in Salesforce by 237.4% in the first quarter. Financial Management Professionals Inc. now owns 722 shares of the CRM provider’s stock valued at $144,000 after buying an additional 508 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Salesforce by 2.3% in the second quarter. Independence Bank of Kentucky now owns 13,401 shares of the CRM provider’s stock valued at $2,831,000 after buying an additional 295 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Salesforce by 1.1% in the 1st quarter. William Blair Investment Management LLC now owns 1,047,620 shares of the CRM provider’s stock worth $209,294,000 after acquiring an additional 11,322 shares during the period. Finally, VELA Investment Management LLC increased its holdings in shares of Salesforce by 5.9% in the 1st quarter. VELA Investment Management LLC now owns 5,040 shares of the CRM provider’s stock worth $1,007,000 after acquiring an additional 283 shares during the period. Institutional investors own 77.52% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 1,746 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $209.63, for a total value of $366,013.98. Following the completion of the sale, the chief operating officer now directly owns 3,340 shares of the company’s stock, valued at approximately $700,164.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Brian Millham sold 1,746 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $209.63, for a total transaction of $366,013.98. Following the sale, the chief operating officer now directly owns 3,340 shares in the company, valued at $700,164.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $215.54, for a total value of $3,233,100.00. Following the completion of the transaction, the chief executive officer now owns 15,786,166 shares of the company’s stock, valued at $3,402,550,219.64. The disclosure for this sale can be found here. Insiders sold a total of 633,071 shares of company stock worth $138,539,253 over the last three months. 3.70% of the stock is currently owned by insiders.

Salesforce Stock Performance

CRM stock traded down $1.44 during midday trading on Tuesday, hitting $213.56. 1,266,294 shares of the company traded hands, compared to its average volume of 6,989,235. The business has a 50 day simple moving average of $218.24 and a 200-day simple moving average of $206.68. 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, Inc. has a twelve month low of $126.34 and a twelve month high of $238.22. The stock has a market capitalization of $207.79 billion, a price-to-earnings ratio of 135.23, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19.

Salesforce (NYSE:CRM) last released 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. The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $240.00 price objective on shares of Salesforce in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 31st. Sanford C. Bernstein boosted their price target on shares of Salesforce from $145.00 to $153.00 in a research report on Thursday, June 1st. UBS Group increased their price objective on shares of Salesforce from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 31st. Finally, Truist Financial reissued a “buy” rating and set a $275.00 target price on shares of Salesforce in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.