Adviser Investments LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Adviser Investments LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 24.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,779 shares of the CRM provider’s stock after acquiring an additional 550 shares during the quarter. Adviser Investments LLC’s holdings in Salesforce were worth $459,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vectors Research Management LLC raised its position in Salesforce by 128.9% in the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after buying an additional 58 shares during the last quarter. MCF Advisors LLC purchased a new position in shares of Salesforce in the 1st quarter worth approximately $30,000. FSC Wealth Advisors LLC lifted its position in Salesforce by 1,350.0% in the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after buying an additional 135 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in Salesforce in the 1st quarter worth about $35,000. Finally, Retirement Group LLC grew its stake in Salesforce by 65.5% in the 1st quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock worth $39,000 after acquiring an additional 72 shares in the last quarter. 77.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Salesforce from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, August 25th. Barclays reduced their price target on shares of Salesforce from $218.00 to $202.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. Mizuho lowered their target price on Salesforce from $245.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, August 25th. Citigroup decreased their price target on shares of Salesforce from $189.00 to $179.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Finally, Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating and set a $150.00 price objective on the stock in a research note on Friday, September 2nd. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $242.12.

Salesforce Stock Up 1.7 %

CRM stock opened at $150.15 on Friday. The firm’s 50 day moving average price is $171.85 and its 200-day moving average price is $178.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $150.15 billion, a PE ratio of 278.06, a PEG ratio of 4.01 and a beta of 1.12. Salesforce, Inc. has a one year low of $147.51 and a one year high of $311.75.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings results on Wednesday, August 24th. The CRM provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 2.2 EPS for the current year.

Salesforce declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 24th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $182.05, for a total value of $418,715.00. Following the sale, the chief executive officer now owns 28,761,368 shares of the company’s stock, valued at $5,236,007,044.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $182.05, for a total value of $418,715.00. Following the completion of the sale, the chief executive officer now directly owns 28,761,368 shares in the company, valued at approximately $5,236,007,044.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Gavin Patterson sold 543 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $177.87, for a total transaction of $96,583.41. Following the completion of the transaction, the executive now directly owns 17,282 shares of the company’s stock, valued at $3,073,949.34. The disclosure for this sale can be found here. Insiders have sold 71,246 shares of company stock worth $12,337,917 in the last quarter. Company insiders own 3.60% of the company’s stock.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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