Salesforce, Inc. (NYSE:CRM) Shares Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lifted its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 1.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,014 shares of the CRM provider’s stock after purchasing an additional 112 shares during the period. Gamco Investors INC. ET AL’s holdings in Salesforce were worth $1,220,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CRM. Union Savings Bank acquired a new stake in Salesforce during the 2nd quarter valued at $27,000. GHP Investment Advisors Inc. lifted its stake in Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares in the last quarter. Live Oak Investment Partners acquired a new stake in Salesforce during the 4th quarter worth about $36,000. Peoples Bank KS purchased a new position in Salesforce during the 3rd quarter valued at about $39,000. Finally, HBC Financial Services PLLC increased its holdings in shares of Salesforce by 350.0% in 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. 77.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CRM. Mizuho boosted their price objective on shares of Salesforce from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Royal Bank of Canada upped their price target on shares of Salesforce from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 30th. Wells Fargo & Company cut Salesforce from an “overweight” rating to an “equal weight” rating and set a $280.00 price objective for the company. in a research report on Wednesday, December 20th. Piper Sandler upped their target price on Salesforce from $266.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Finally, StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

Read Our Latest Report on CRM

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $214.87, for a total value of $3,223,050.00. Following the completion of the transaction, the chief executive officer now directly owns 14,921,166 shares of the company’s stock, valued at approximately $3,206,110,938.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the completion of the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $214.87, for a total transaction of $3,223,050.00. Following the sale, the chief executive officer now directly owns 14,921,166 shares in the company, valued at $3,206,110,938.42. The disclosure for this sale can be found here. Insiders sold a total of 1,408,178 shares of company stock worth $371,005,175 over the last quarter. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

CRM opened at $291.27 on Friday. The stock’s 50 day simple moving average is $268.45 and its 200-day simple moving average is $232.51. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $281.95 billion, a PE ratio of 110.75, a P/E/G ratio of 1.86 and a beta of 1.28. Salesforce, Inc. has a 1 year low of $159.65 and a 1 year high of $295.24.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.71 billion. Salesforce had a net margin of 7.63% and a return on equity of 9.19%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. Sell-side analysts forecast that Salesforce, Inc. will post 6.02 EPS for the current year.

About Salesforce

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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