YHB Investment Advisors Inc. Purchases 1,213 Shares of Salesforce, Inc. (NYSE:CRM)

YHB Investment Advisors Inc. increased its position in Salesforce, Inc. (NYSE:CRMGet Rating) by 19.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,431 shares of the CRM provider’s stock after purchasing an additional 1,213 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Salesforce were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lebenthal Global Advisors LLC bought a new position in shares of Salesforce during the fourth quarter valued at $399,000. Atria Wealth Solutions Inc. bought a new position in shares of Salesforce during the first quarter valued at $8,302,000. Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of Salesforce by 18.5% during the first quarter. Lombard Odier Asset Management Europe Ltd now owns 21,635 shares of the CRM provider’s stock valued at $4,594,000 after acquiring an additional 3,378 shares during the period. Soltis Investment Advisors LLC lifted its holdings in shares of Salesforce by 6.2% during the first quarter. Soltis Investment Advisors LLC now owns 1,133 shares of the CRM provider’s stock valued at $240,000 after acquiring an additional 66 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Salesforce by 11.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 170,612 shares of the CRM provider’s stock valued at $36,224,000 after acquiring an additional 17,441 shares during the period. 77.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research analyst reports. Wedbush cut their price target on Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, August 25th. UBS Group cut their price target on Salesforce from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, August 25th. Cowen cut their price target on Salesforce from $225.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, August 25th. Oppenheimer reissued a “buy” rating and set a $240.00 price objective on shares of Salesforce in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on Salesforce from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, August 25th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.12.

Insider Activity

In other news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $170.50, for a total value of $392,150.00. Following the completion of the sale, the chief executive officer now owns 28,061,368 shares of the company’s stock, valued at approximately $4,784,463,244. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $170.50, for a total transaction of $392,150.00. Following the transaction, the chief executive officer now owns 28,061,368 shares in the company, valued at approximately $4,784,463,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 568 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $177.87, for a total value of $101,030.16. Following the transaction, the insider now owns 93,650 shares in the company, valued at approximately $16,657,525.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,246 shares of company stock valued at $12,337,917. 3.60% of the stock is owned by insiders.

Salesforce Trading Up 1.7 %

NYSE CRM opened at $150.15 on Friday. The company 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. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 12 month low of $147.51 and a 12 month high of $311.75. The stock has a 50 day moving average of $171.85 and a 200-day moving average of $178.69.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data 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 the consensus estimate of $7.70 billion. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 2.2 EPS for the current fiscal year.

Salesforce announced that its board has initiated a stock repurchase program on Wednesday, August 24th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the CRM provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Salesforce Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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