Bellecapital International Ltd. Has $429,000 Position in Salesforce, Inc. (NYSE:CRM)

Bellecapital International Ltd. grew its stake in Salesforce, Inc. (NYSE:CRMGet Rating) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,984 shares of the CRM provider’s stock after purchasing an additional 363 shares during the period. Bellecapital International Ltd.’s holdings in Salesforce were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Salesforce by 40.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 46,707,038 shares of the CRM provider’s stock worth $7,708,529,000 after buying an additional 13,483,854 shares during the period. Public Investment Fund acquired a new stake in Salesforce during the 2nd quarter worth approximately $437,393,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Salesforce by 114.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,881,056 shares of the CRM provider’s stock worth $640,566,000 after buying an additional 2,074,938 shares during the period. Polen Capital Management LLC boosted its position in Salesforce by 12.5% during the 3rd quarter. Polen Capital Management LLC now owns 11,057,687 shares of the CRM provider’s stock worth $1,590,538,000 after buying an additional 1,228,763 shares during the period. Finally, SG Americas Securities LLC boosted its position in Salesforce by 105.0% during the 2nd quarter. SG Americas Securities LLC now owns 56,467 shares of the CRM provider’s stock worth $9,319,000 after buying an additional 1,193,493 shares during the period. 75.83% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM traded down $2.86 during trading on Wednesday, hitting $152.00. 846,156 shares of the company’s stock traded hands, compared to its average volume of 9,724,479. The stock has a market capitalization of $152 billion, a price-to-earnings ratio of 553.07, a PEG ratio of 3.91 and a beta of 1.15. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $234.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50 day moving average of $141.15 and a 200-day moving average of $155.56.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Wednesday, November 30th. The CRM provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.58 by $0.15. The business had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.83 billion. Salesforce had a net margin of 0.92% and a return on equity of 3.21%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, equities research analysts anticipate that Salesforce, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cowen downgraded shares of Salesforce from an “outperform” rating to a “market perform” rating in a research report on Friday, January 20th. Barclays lowered their price target on shares of Salesforce from $193.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, December 1st. BMO Capital Markets lowered their price target on shares of Salesforce from $180.00 to $172.00 in a report on Thursday, December 1st. Monness Crespi & Hardt lowered shares of Salesforce from a “buy” rating to a “neutral” rating in a report on Thursday, November 17th. Finally, Wedbush lowered their price target on shares of Salesforce from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, December 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $189.81.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 47,096 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $163.16, for a total transaction of $7,684,183.36. Following the sale, the insider now directly owns 95,155 shares of the company’s stock, valued at $15,525,489.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Parker Harris sold 47,096 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $163.16, for a total transaction of $7,684,183.36. Following the sale, the insider now directly owns 95,155 shares in the company, valued at $15,525,489.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $118,780.20. Following the sale, the chief financial officer now owns 32,807 shares in the company, valued at $4,217,339.85. The disclosure for this sale can be found here. Insiders have sold a total of 163,864 shares of company stock valued at $24,850,039 over the last three months. 3.60% of the stock is currently owned by insiders.

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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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