Salesforce, Inc. (NYSE:CRM) Shares Sold by Oder Investment Management LLC

Oder Investment Management LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,849 shares of the CRM provider’s stock after selling 271 shares during the quarter. Oder Investment Management LLC’s holdings in Salesforce were worth $813,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRM. Vestor Capital LLC lifted its stake in Salesforce by 244.9% during the second quarter. Vestor Capital LLC now owns 2,080 shares of the CRM provider’s stock worth $91,000 after purchasing an additional 1,477 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Salesforce in the 2nd quarter worth about $1,140,000. Spire Wealth Management boosted its holdings in shares of Salesforce by 40.4% in the 2nd quarter. Spire Wealth Management now owns 49,887 shares of the CRM provider’s stock valued at $10,539,000 after buying an additional 14,357 shares during the period. Equitable Trust Co. grew its position in shares of Salesforce by 20.8% during the 2nd quarter. Equitable Trust Co. now owns 46,015 shares of the CRM provider’s stock valued at $9,721,000 after buying an additional 7,925 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Salesforce by 6.4% during the second quarter. Public Employees Retirement Association of Colorado now owns 1,170,728 shares of the CRM provider’s stock worth $247,328,000 after acquiring an additional 70,442 shares during the period. Institutional investors own 77.52% of the company’s stock.

Salesforce Price Performance

CRM opened at $219.45 on Tuesday. The firm has a market capitalization of $213.52 billion, a P/E ratio of 135.39, a PEG ratio of 1.62 and a beta of 1.18. The stock has a fifty day moving average of $208.61 and a 200-day moving average of $211.21. 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 12-month low of $126.34 and a 12-month high of $238.22.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.22. The firm had revenue of $8.60 billion for 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 company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts forecast that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $240.00 target price on shares of Salesforce in a report on Friday, September 15th. BMO Capital Markets upped their price objective on Salesforce from $255.00 to $262.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. UBS Group raised their target price on Salesforce from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 31st. StockNews.com initiated coverage on shares of Salesforce in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. Finally, Robert W. Baird lifted their price objective on shares of Salesforce from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.28.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 16,275 shares of Salesforce stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $226.47, for a total value of $3,685,799.25. Following the completion of the sale, the chief financial officer now owns 35,611 shares of the company’s stock, valued at approximately $8,064,823.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Amy E. Weaver sold 16,275 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $226.47, for a total value of $3,685,799.25. Following the transaction, the chief financial officer now directly owns 35,611 shares of the company’s stock, valued at approximately $8,064,823.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $205.12, for a total value of $3,076,800.00. Following the sale, the chief executive officer now directly owns 16,086,166 shares of the company’s stock, valued at approximately $3,299,594,369.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 646,788 shares of company stock valued at $135,547,531. 3.70% of the stock is owned by corporate insiders.

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.