Salesforce, Inc. (NYSE:CRM) Shares Acquired by GFG Capital LLC

GFG Capital LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) by 29.2% during the third quarter, HoldingsChannel reports. The firm owned 6,307 shares of the CRM provider’s stock after purchasing an additional 1,425 shares during the quarter. GFG Capital LLC’s holdings in Salesforce were worth $907,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Salesforce by 40.6% during the second 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 purchasing an additional 13,483,854 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Salesforce by 1.6% in the third quarter. Jennison Associates LLC now owns 13,688,506 shares of the CRM provider’s stock worth $1,968,955,000 after buying an additional 210,376 shares during the last quarter. Polen Capital Management LLC increased its stake in Salesforce by 12.5% during the third quarter. Polen Capital Management LLC now owns 11,057,687 shares of the CRM provider’s stock valued at $1,590,538,000 after purchasing an additional 1,228,763 shares during the last quarter. Clearbridge Investments LLC increased its stake in Salesforce by 0.3% during the first quarter. Clearbridge Investments LLC now owns 7,315,501 shares of the CRM provider’s stock valued at $1,553,227,000 after purchasing an additional 18,581 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Salesforce by 3.6% during the second quarter. Legal & General Group Plc now owns 6,788,269 shares of the CRM provider’s stock valued at $1,120,337,000 after purchasing an additional 236,802 shares during the last quarter. 75.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of Salesforce from $215.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, December 1st. StockNews.com raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Thursday, December 8th. JPMorgan Chase & Co. cut their price target on shares of Salesforce from $245.00 to $200.00 in a report on Thursday, December 1st. Raymond James cut their price target on shares of Salesforce from $225.00 to $200.00 in a report on Thursday, December 1st. Finally, Atlantic Securities lowered shares of Salesforce from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $200.00 to $140.00 in a research note on Friday, January 13th. One investment 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.03.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 47,096 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $147.78, for a total value of $6,959,846.88. Following the sale, the insider now directly owns 95,155 shares in the company, valued at $14,062,005.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 186 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $155.59, for a total transaction of $28,939.74. Following the completion of the sale, the chief accounting officer now directly owns 1,273 shares in the company, valued at approximately $198,066.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 47,096 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $147.78, for a total value of $6,959,846.88. Following the sale, the insider now owns 95,155 shares of the company’s stock, valued at $14,062,005.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,680 shares of company stock valued at $23,265,353. Insiders own 3.60% of the company’s stock.

Salesforce Stock Up 2.6 %

Salesforce stock traded up $4.50 during mid-day trading on Thursday, reaching $176.32. The stock had a trading volume of 6,187,167 shares, compared to its average volume of 9,863,394. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $222.19. The stock’s 50-day simple moving average is $142.97 and its 200-day simple moving average is $155.57. The firm has a market capitalization of $176.32 billion, a PE ratio of 627.21, a price-to-earnings-growth ratio of 4.21 and a beta of 1.19.

Salesforce (NYSE:CRM – Get Rating) last announced its earnings results on Wednesday, November 30th. The CRM provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.15. The company had revenue of $7.84 billion for the quarter, compared to analysts’ expectations of $7.83 billion. Salesforce had a return on equity of 3.21% and a net margin of 0.92%. Salesforce’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, sell-side analysts forecast that Salesforce, Inc. will post 2.38 EPS for the current fiscal year.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.