Salesforce, Inc. (NYSE:CRM) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,992 shares of the CRM provider’s stock after selling 30,946 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Salesforce were worth $60,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mayflower Financial Advisors LLC raised its position in Salesforce by 1.2% during the fourth quarter. Mayflower Financial Advisors LLC now owns 3,794 shares of the CRM provider’s stock worth $964,000 after acquiring an additional 46 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of Salesforce by 0.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 9,652 shares of the CRM provider’s stock worth $2,453,000 after buying an additional 47 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc. grew its holdings in shares of Salesforce by 4.1% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock worth $306,000 after buying an additional 47 shares in the last quarter. Carret Asset Management LLC grew its holdings in shares of Salesforce by 2.3% during the fourth quarter. Carret Asset Management LLC now owns 2,092 shares of the CRM provider’s stock worth $532,000 after buying an additional 48 shares in the last quarter. Finally, Bedel Financial Consulting Inc. grew its holdings in shares of Salesforce by 7.0% during the fourth quarter. Bedel Financial Consulting Inc. now owns 738 shares of the CRM provider’s stock worth $188,000 after buying an additional 48 shares in the last quarter. Institutional investors own 77.75% of the company’s stock.

CRM stock traded up $1.80 during trading on Friday, hitting $166.84. 77,624 shares of the company’s stock traded hands, compared to its average volume of 7,916,729. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75. The stock has a fifty day moving average price of $170.53 and a two-hundred day moving average price of $201.54. The stock has a market capitalization of $166.01 billion, a price-to-earnings ratio of 160.23, a price-to-earnings-growth ratio of 5.09 and a beta of 1.16.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.38 billion. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $157.52, for a total value of $362,296.00. Following the completion of the sale, the chief executive officer now directly owns 28,926,000 shares of the company’s stock, valued at approximately $4,556,423,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 973 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $165,828.39. Following the completion of the sale, the insider now directly owns 93,103 shares of the company’s stock, valued at $15,867,544.29. The disclosure for this sale can be found here. Insiders sold a total of 108,443 shares of company stock valued at $19,683,362 in the last quarter. 4.10% of the stock is currently owned by insiders.

CRM has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their target price on shares of Salesforce from $300.00 to $250.00 in a report on Wednesday, June 1st. Citigroup boosted their target price on shares of Salesforce to $192.00 in a report on Friday, June 3rd. Cowen lowered their target price on shares of Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. KeyCorp lowered their target price on shares of Salesforce from $281.00 to $223.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Finally, StockNews.com assumed coverage on shares of Salesforce in a report on Thursday, March 31st. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $271.28.

About Salesforce (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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