Salesforce, Inc. (NYSE:CRM) Shares Purchased by PFS Investments Inc.

PFS Investments Inc. boosted its position in Salesforce, Inc. (NYSE:CRM – Get Rating) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,534 shares of the CRM provider’s stock after buying an additional 2,104 shares during the period. PFS Investments Inc.’s holdings in Salesforce were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Morgan Stanley grew its position in Salesforce by 20.2% during the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock valued at $4,046,065,000 after buying an additional 2,787,393 shares during the period. Wellington Management Group LLP boosted its position in Salesforce by 5.3% during the third quarter. Wellington Management Group LLP now owns 15,889,819 shares of the CRM provider’s stock worth $4,309,637,000 after purchasing an additional 805,630 shares in the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 8.1% during the third quarter. Geode Capital Management LLC now owns 14,884,328 shares of the CRM provider’s stock worth $4,024,519,000 after purchasing an additional 1,109,641 shares in the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 4.7% during the fourth quarter. Fisher Asset Management LLC now owns 14,565,099 shares of the CRM provider’s stock worth $3,701,429,000 after acquiring an additional 655,371 shares during the period. Finally, Jennison Associates LLC raised its position in Salesforce by 42.2% during the fourth quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock worth $3,509,260,000 after acquiring an additional 4,096,666 shares during the period. Hedge funds and other institutional investors own 77.75% of the company’s stock.

Shares of NYSE CRM opened at $159.65 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. Salesforce, Inc. has a twelve month low of $154.55 and a twelve month high of $311.75. The stock has a 50 day moving average of $189.67 and a two-hundred day moving average of $224.55. The stock has a market cap of $158.11 billion, a P/E ratio of 106.43, a P/E/G ratio of 4.47 and a beta of 1.16.

Salesforce (NYSE:CRM – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.24 billion. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. Salesforce’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 2.08 earnings per share for the current year.

In related news, CFO Amy E. Weaver sold 510 shares of Salesforce stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $171.68, for a total value of $87,556.80. Following the sale, the chief financial officer now directly owns 29,075 shares in the company, valued at $4,991,596. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $159.39, for a total value of $366,597.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares in the company, valued at $4,610,515,140. The disclosure for this sale can be found here. Insiders sold a total of 137,435 shares of company stock worth $27,032,562 over the last quarter. Company insiders own 4.10% of the company’s stock.

Several equities research analysts have commented on CRM shares. Cowen cut their price objective on Salesforce from $325.00 to $285.00 in a research note on Monday, February 28th. Raymond James lowered their target price on shares of Salesforce from $340.00 to $300.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 2nd. Bank of America lowered their target price on shares of Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Royal Bank of Canada set a $325.00 target price on shares of Salesforce in a research note on Wednesday, March 2nd. Finally, Barclays decreased their target price on shares of Salesforce from $275.00 to $208.00 and set an “overweight” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $290.53.

Salesforce Profile (Get Rating)

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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