Transcend Capital Advisors LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 7.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,208 shares of the CRM provider's stock after selling 1,072 shares during the period. Transcend Capital Advisors LLC's holdings in Salesforce were worth $2,790,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewSquare Capital LLC increased its holdings in Salesforce by 132.8% in the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider's stock valued at $36,000 after acquiring an additional 63 shares during the period. Live Oak Investment Partners bought a new position in Salesforce during the 4th quarter worth approximately $36,000. Delta Asset Management LLC TN acquired a new position in Salesforce during the fourth quarter valued at approximately $39,000. Finally, HBC Financial Services PLLC increased its stake in Salesforce by 350.0% in the second 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 in the last quarter. Institutional investors own 77.52% of the company's stock.
Insiders Place Their Bets
In other news, CAO Sundeep G. Reddy sold 164 shares of the company's stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $225.05, for a total value of $36,908.20. Following the transaction, the chief accounting officer now owns 2,230 shares of the company's stock, valued at $501,861.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, COO Brian Millham sold 1,746 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $209.63, for a total transaction of $366,013.98. Following the transaction, the chief operating officer now owns 3,340 shares in the company, valued at approximately $700,164.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 164 shares of the firm's stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $225.05, for a total transaction of $36,908.20. Following the transaction, the chief accounting officer now directly owns 2,230 shares in the company, valued at $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 three months. Insiders own 3.70% of the company's stock.
Salesforce Stock Performance
Shares of CRM stock traded up $0.21 during trading on Tuesday, reaching $215.21. 2,038,189 shares of the company's stock were exchanged, compared to its average volume of 6,993,546. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $238.22. The firm's fifty day moving average price is $218.24 and its 200-day moving average price is $206.68. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $209.40 billion, a PE ratio of 135.23, a PEG ratio of 1.62 and a beta of 1.19.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.90 by $0.22. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 5.86 EPS for the current year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Salesforce from $245.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, August 31st. Citigroup increased their price target on Salesforce from $220.00 to $229.00 in a report on Thursday, August 31st. Stifel Nicolaus lifted 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. Loop Capital increased their target price on Salesforce from $215.00 to $230.00 and gave the stock a "hold" rating in a research note on Thursday, August 31st. Finally, Raymond James raised their target price on shares of Salesforce from $260.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $240.59.
Get Our Latest Stock Report on CRM
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.
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