Imprint Wealth LLC Acquires Shares of 138,815 Salesforce, Inc. (NYSE:CRM)

Imprint Wealth LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 138,815 shares of the CRM provider’s stock, valued at approximately $13,882,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Atlas Brown Inc. raised its position in Salesforce by 0.7% during the second quarter. Atlas Brown Inc. now owns 6,237 shares of the CRM provider’s stock worth $1,318,000 after acquiring an additional 44 shares during the period. Country Club Bank GFN lifted its stake in Salesforce by 0.9% in the 2nd quarter. Country Club Bank GFN now owns 5,778 shares of the CRM provider’s stock valued at $1,216,000 after buying an additional 50 shares in the last quarter. Summit X LLC boosted its holdings in Salesforce by 4.8% in the 2nd quarter. Summit X LLC now owns 1,084 shares of the CRM provider’s stock worth $229,000 after buying an additional 50 shares during the last quarter. Western Pacific Wealth Management LP increased its stake in Salesforce by 1.2% during the 1st quarter. Western Pacific Wealth Management LP now owns 4,545 shares of the CRM provider’s stock worth $908,000 after buying an additional 53 shares in the last quarter. Finally, Hyperion Partners LLC increased its stake in Salesforce by 3.3% during the 2nd quarter. Hyperion Partners LLC now owns 1,661 shares of the CRM provider’s stock worth $351,000 after buying an additional 53 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $220.94, for a total transaction of $3,314,100.00. Following the completion of the transaction, the chief executive officer now owns 14,876,166 shares in the company, valued at $3,286,740,116.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $220.94, for a total transaction of $3,314,100.00. Following the sale, the chief executive officer now owns 14,876,166 shares in the company, valued at $3,286,740,116.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 164 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $200.97, for a total value of $32,959.08. Following the completion of the sale, the chief accounting officer now directly owns 2,576 shares in the company, valued at $517,698.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 671,788 shares of company stock valued at $141,136,481. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. Jefferies Financial Group raised their price objective on Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, August 31st. Robert W. Baird lifted their target price on Salesforce from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 31st. Morgan Stanley cut Salesforce from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $251.00 to $278.00 in a research note on Monday, July 31st. Stifel Nicolaus boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. Finally, StockNews.com initiated coverage on shares of Salesforce in a report on Thursday, October 5th. They issued a “strong-buy” rating on the stock. One 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $241.28.

Salesforce Stock Performance

CRM traded up $3.47 during trading on Monday, reaching $224.69. The company’s stock had a trading volume of 1,951,896 shares, compared to its average volume of 6,425,020. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average price is $208.52 and its 200-day moving average price is $211.92. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $238.22. The company has a market capitalization of $218.62 billion, a price-to-earnings ratio of 139.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.18.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, equities analysts forecast 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.