Nicholas Investment Partners LP grew its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 14.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,963 shares of the CRM provider’s stock after buying an additional 977 shares during the period. Nicholas Investment Partners LP’s holdings in Salesforce were worth $1,682,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in CRM. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Salesforce by 92,823.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 238,763,957 shares of the CRM provider’s stock worth $50,441,274,000 after buying an additional 238,507,009 shares during the period. Norges Bank bought a new stake in shares of Salesforce in the 4th quarter worth about $1,420,381,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Salesforce by 125,717.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after purchasing an additional 10,252,257 shares during the period. Starboard Value LP bought a new position in Salesforce during the 4th quarter valued at about $401,215,000. Finally, Wellington Management Group LLP raised its position in Salesforce by 21.3% in the 1st quarter. Wellington Management Group LLP now owns 14,134,170 shares of the CRM provider’s stock worth $2,823,724,000 after purchasing an additional 2,481,759 shares during the period. 77.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on CRM. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price on shares of Salesforce in a research note on Friday, September 15th. Stifel Nicolaus upped their price objective on Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Northland Securities lifted their target price on Salesforce from $210.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. Canaccord Genuity Group upped their price target on shares of Salesforce from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. Finally, TD Cowen lifted their price objective on shares of Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.28.
Insider Activity at Salesforce
In other news, insider Parker Harris sold 6,250 shares of Salesforce stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $228.00, for a total transaction of $1,425,000.00. Following the completion of the transaction, the insider now directly owns 101,790 shares of the company’s stock, valued at approximately $23,208,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $212.86, for a total transaction of $2,128,600.00. Following the completion of the transaction, the insider now directly owns 58,930 shares in the company, valued at $12,543,839.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 6,250 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $228.00, for a total transaction of $1,425,000.00. Following the sale, the insider now directly owns 101,790 shares of the company’s stock, valued at approximately $23,208,120. The disclosure for this sale can be found here. Insiders sold 656,788 shares of company stock worth $137,822,381 over the last three months. Company insiders own 3.70% of the company’s stock.
Salesforce Stock Performance
Shares of Salesforce stock traded up $2.58 during midday trading on Thursday, hitting $222.00. The company had a trading volume of 545,383 shares, compared to its average volume of 6,443,404. The stock has a market cap of $216.01 billion, a price-to-earnings ratio of 137.97, a PEG ratio of 1.63 and a beta of 1.18. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $238.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $208.61 and a 200 day simple moving average of $211.43.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.
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.
- Five stocks we like better than Salesforce
- What Is Dividend Yield and How Do You Calculate It?
- Is it time to buy the dip in Walmart shares?
- How to Calculate Return on Investment (ROI)
- Unlocking AI investment opportunities in healthcare
- Breakout Stocks: What They Are and How to Identify Them
- New Disney investor propels stock to ranks of best S&P gainers
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.