Salesforce, Inc. (NYSE:CRM) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 805,860 shares of the CRM provider’s stock after selling 30,501 shares during the quarter. Great West Life Assurance Co. Can owned 0.08% of Salesforce worth $171,093,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Salesforce by 374.1% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock valued at $27,000 after purchasing an additional 101 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after purchasing an additional 63 shares during the period. Live Oak Investment Partners acquired a new position in shares of Salesforce during the 4th quarter valued at $36,000. HBC Financial Services PLLC increased its position in shares of Salesforce by 350.0% during the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after purchasing an additional 175 shares during the period. Finally, SJS Investment Consulting Inc. increased its position in shares of Salesforce by 354.8% during the 2nd quarter. SJS Investment Consulting Inc. now owns 191 shares of the CRM provider’s stock valued at $40,000 after purchasing an additional 149 shares during the period. 77.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Parker Harris sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $209.85, for a total transaction of $262,312.50. Following the transaction, the insider now directly owns 101,790 shares in the company, valued at $21,360,631.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Sundeep G. Reddy sold 164 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $200.97, for a total transaction of $32,959.08. Following the transaction, the chief accounting officer now directly owns 2,576 shares in the company, valued at $517,698.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $209.85, for a total value of $262,312.50. Following the transaction, the insider now owns 101,790 shares in the company, valued at $21,360,631.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 671,788 shares of company stock valued at $141,136,481. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CRM. Wells Fargo & Company raised their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. JPMorgan Chase & Co. raised their price objective on Salesforce from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Barclays raised their price objective on Salesforce from $245.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. TD Cowen raised their price objective on Salesforce from $210.00 to $230.00 and gave the stock a “market perform” rating in a research note on Thursday, August 31st. Finally, UBS Group raised their price objective on Salesforce from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $241.28.

Salesforce Stock Performance

Shares of NYSE CRM traded down $0.23 during trading hours on Friday, hitting $221.22. 3,636,397 shares of the company’s stock were exchanged, compared to its average volume of 6,445,762. Salesforce, Inc. has a 1-year low of $126.34 and a 1-year high of $238.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $215.25 billion, a price-to-earnings ratio of 139.13, a PEG ratio of 1.66 and a beta of 1.18. The company’s 50-day moving average price is $208.52 and its 200-day moving average price is $211.78.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.22. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The business 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 earned $0.52 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect that Salesforce, Inc. will post 5.86 earnings per share 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.