OLD National Bancorp IN Has $13.59 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

OLD National Bancorp IN grew its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,998 shares of the CRM provider’s stock after purchasing an additional 3,083 shares during the period. OLD National Bancorp IN’s holdings in Salesforce were worth $13,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CRM. Qube Research & Technologies Ltd raised its holdings in shares of Salesforce by 21.6% during the fourth quarter. Qube Research & Technologies Ltd now owns 96,505 shares of the CRM provider’s stock valued at $24,525,000 after purchasing an additional 17,130 shares during the period. Sage Mountain Advisors LLC raised its holdings in shares of Salesforce by 53.7% in the 4th quarter. Sage Mountain Advisors LLC now owns 1,726 shares of the CRM provider’s stock worth $439,000 after acquiring an additional 603 shares during the last quarter. RBA Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter worth about $247,000. New York State Common Retirement Fund raised its holdings in shares of Salesforce by 1.2% in the 4th quarter. New York State Common Retirement Fund now owns 1,764,074 shares of the CRM provider’s stock worth $448,304,000 after acquiring an additional 20,792 shares during the last quarter. Finally, Girard Partners LTD. raised its holdings in shares of Salesforce by 1.5% in the 4th quarter. Girard Partners LTD. now owns 21,160 shares of the CRM provider’s stock worth $5,377,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRM. Stifel Nicolaus lowered their target price on shares of Salesforce from $300.00 to $250.00 in a report on Wednesday, June 1st. Barclays upped their target price on shares of Salesforce from $208.00 to $218.00 and gave the stock an “overweight” rating in a report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Salesforce from $300.00 to $260.00 in a report on Wednesday, June 1st. Cowen decreased their price objective on shares of Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. Finally, Morgan Stanley decreased their price objective on shares of Salesforce from $360.00 to $291.00 in a research note on Monday, May 16th. Four analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $270.51.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Friday, May 20th. The shares were sold at an average price of $157.52, for a total value of $362,296.00. Following the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,556,423,520. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Friday, May 20th. The shares were sold at an average price of $157.52, for a total value of $362,296.00. Following the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,556,423,520. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 568 shares of Salesforce stock in a transaction on Monday, July 25th. The stock was sold at an average price of $177.87, for a total transaction of $101,030.16. Following the completion of 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. Insiders have sold a total of 77,749 shares of company stock worth $13,366,068 in the last 90 days. 3.60% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of Salesforce stock traded down $7.59 on Tuesday, hitting $182.16. 114,523 shares of the company traded hands, compared to its average volume of 4,759,319. The firm’s 50-day simple moving average is $175.61 and its 200 day simple moving average is $188.49. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $181.25 billion, a P/E ratio of 179.47, a P/E/G ratio of 5.22 and a beta of 1.08. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. Analysts expect that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

Salesforce 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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