Moisand Fitzgerald Tamayo LLC Has $35,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Moisand Fitzgerald Tamayo LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 37.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 164 shares of the CRM provider’s stock after selling 100 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in Salesforce were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter worth $1,420,381,000. Moneta Group Investment Advisors LLC lifted its holdings in Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after buying an additional 10,252,257 shares during the period. Starboard Value LP purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $401,215,000. Wellington Management Group LLP raised its holdings in Salesforce by 21.3% in the 1st quarter. Wellington Management Group LLP now owns 14,134,170 shares of the CRM provider’s stock worth $2,823,724,000 after acquiring an additional 2,481,759 shares during the last quarter. Finally, Inclusive Capital Partners L.P. bought a new stake in Salesforce in the 4th quarter worth approximately $216,769,000. 77.52% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 164 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the sale, the chief accounting officer now owns 2,230 shares in the company, valued at $501,861.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 1,746 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $209.63, for a total transaction of $366,013.98. Following the completion of the sale, the chief operating officer now directly owns 3,340 shares of the company’s stock, valued at $700,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 164 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the transaction, the chief accounting officer now owns 2,230 shares in the company, valued at approximately $501,861.50. The disclosure for this sale can be found here. Insiders sold 633,071 shares of company stock worth $138,539,253 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded down $1.69 during mid-day trading on Tuesday, hitting $213.31. The stock had a trading volume of 982,241 shares, compared to its average volume of 6,987,812. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $238.22. The firm has a market cap of $207.55 billion, a PE ratio of 135.23, a PEG ratio of 1.62 and a beta of 1.19. 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 company’s 50-day simple moving average is $218.24 and its 200-day simple moving average is $206.68.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter last year, the business earned $0.52 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on CRM shares. UBS Group boosted their price target on shares of Salesforce from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. TD Cowen raised their target price on shares of Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective on shares of Salesforce in a research note on Friday. Wedbush lifted their price objective on shares of Salesforce from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, August 31st. Finally, BMO Capital Markets boosted their target price on shares of Salesforce from $255.00 to $262.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.59.

Salesforce Company 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.