Salesforce, Inc. (NYSE:CRM) Shares Purchased by Beacon Capital Management LLC

Beacon Capital Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 30.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848 shares of the CRM provider’s stock after purchasing an additional 196 shares during the period. Beacon Capital Management LLC’s holdings in Salesforce were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Walkner Condon Financial Advisors LLC boosted its stake in Salesforce by 2.0% in the first quarter. Walkner Condon Financial Advisors LLC now owns 2,599 shares of the CRM provider’s stock valued at $519,000 after acquiring an additional 51 shares during the period. Western Pacific Wealth Management LP grew its position in Salesforce by 1.2% in the 1st 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 during the last quarter. Hyperion Partners LLC boosted its position in shares of Salesforce by 3.3% during the second quarter. Hyperion Partners LLC now owns 1,661 shares of the CRM provider’s stock worth $351,000 after buying an additional 53 shares during the period. Koshinski Asset Management Inc. grew its holdings in Salesforce by 0.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 9,715 shares of the CRM provider’s stock worth $1,941,000 after buying an additional 54 shares in the last quarter. Finally, Argent Advisors Inc. increased its position in Salesforce by 1.1% in the 1st quarter. Argent Advisors Inc. now owns 4,952 shares of the CRM provider’s stock valued at $989,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 946 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $209.63, for a total value of $198,309.98. Following the completion of the transaction, the insider now owns 101,236 shares of the company’s stock, valued at approximately $21,222,102.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Parker Harris sold 946 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $209.63, for a total value of $198,309.98. Following the completion of the transaction, the insider now directly owns 101,236 shares in the company, valued at $21,222,102.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 16,275 shares of Salesforce stock in a transaction 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 sale, the chief financial officer now owns 35,107 shares in the company, valued at approximately $7,471,120.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,071 shares of company stock worth $138,539,253. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRM. Sanford C. Bernstein lifted their price objective on shares of Salesforce from $145.00 to $153.00 in a research note on Thursday, June 1st. Wells Fargo & Company upped their target price on Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of Salesforce in a research report on Friday. Raymond James upped their price objective on Salesforce from $260.00 to $280.00 and gave the company a “strong-buy” rating in a report on Thursday, August 31st. Finally, Roth Mkm boosted their price target 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. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.59.

Salesforce Stock Down 0.7 %

Salesforce stock traded down $1.60 during mid-day trading on Tuesday, hitting $213.40. 397,926 shares of the company’s stock were exchanged, compared to its average volume of 6,984,267. Salesforce, Inc. has a 1-year low of $126.34 and a 1-year high of $238.22. The stock has a 50 day moving average of $218.24 and a two-hundred day moving average of $206.68. The stock has a market cap of $207.64 billion, a P/E ratio of 135.23, a P/E/G ratio of 1.62 and a beta of 1.19. 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 (NYSE:CRM) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (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 business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period last year, the business posted $0.52 EPS. Salesforce’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.

Salesforce Company 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.