Shelton Capital Management Cuts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Shelton Capital Management lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 14.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,301 shares of the CRM provider’s stock after selling 3,208 shares during the quarter. Shelton Capital Management’s holdings in Salesforce were worth $4,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Salesforce by 374.1% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. NewSquare Capital LLC grew its stake in shares of Salesforce by 132.8% during the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Live Oak Investment Partners acquired a new position in shares of Salesforce during the fourth quarter worth $36,000. Finally, HBC Financial Services PLLC grew its stake in shares of Salesforce by 350.0% during the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $196.64, for a total value of $2,949,600.00. Following the sale, the chief executive officer now directly owns 15,086,166 shares in the company, valued at $2,966,543,682.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $196.64, for a total value of $2,949,600.00. Following the sale, the chief executive officer now directly owns 15,086,166 shares in the company, valued at $2,966,543,682.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 58,930 shares in the company, valued at $12,543,839.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 671,788 shares of company stock valued at $141,136,481. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of Salesforce in a research note on Friday, September 15th. Jefferies Financial Group upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, August 31st. Morgan Stanley downgraded shares of Salesforce from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $251.00 to $278.00 in a research note on Monday, July 31st. TD Cowen upped their price objective on shares of Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, August 31st. Finally, Raymond James upped their price objective on shares of Salesforce from $260.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.28.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $221.22 on Friday. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $238.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $215.25 billion, a PE ratio of 139.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.18. The company has a 50-day moving average of $208.52 and a two-hundred day moving average of $211.66.

Salesforce (NYSE:CRM) last issued 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 company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.

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.