Mitchell Mcleod Pugh & Williams Inc. bought a new stake in Salesforce, Inc. (NYSE:CRM – Get Rating) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,992 shares of the CRM provider's stock, valued at approximately $287,000.
Several other hedge funds have also recently bought and sold shares of CRM. Geller Advisors LLC grew its holdings in shares of Salesforce by 2.0% during the 2nd quarter. Geller Advisors LLC now owns 2,752 shares of the CRM provider's stock valued at $454,000 after purchasing an additional 54 shares during the last quarter. Wellington Shields & Co. LLC grew its holdings in Salesforce by 4.4% during the 2nd quarter. Wellington Shields & Co. LLC now owns 1,301 shares of the CRM provider's stock worth $215,000 after acquiring an additional 55 shares during the last quarter. Silvant Capital Management LLC grew its holdings in Salesforce by 0.4% during the 2nd quarter. Silvant Capital Management LLC now owns 13,828 shares of the CRM provider's stock worth $2,282,000 after acquiring an additional 58 shares during the last quarter. Quad Cities Investment Group LLC grew its holdings in Salesforce by 4.0% during the 2nd quarter. Quad Cities Investment Group LLC now owns 1,562 shares of the CRM provider's stock worth $258,000 after acquiring an additional 60 shares during the last quarter. Finally, Stokes Family Office LLC grew its holdings in Salesforce by 1.2% during the 2nd quarter. Stokes Family Office LLC now owns 5,363 shares of the CRM provider's stock worth $885,000 after acquiring an additional 62 shares during the last quarter. 75.83% of the stock is owned by institutional investors.
Get Salesforce alerts:Analysts Set New Price Targets
CRM has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Salesforce from $180.00 to $172.00 in a research report on Thursday, December 1st. Macquarie restated an "outperform" rating and issued a $210.00 price target on shares of Salesforce in a research report on Wednesday, November 2nd. DA Davidson initiated coverage on shares of Salesforce in a research report on Tuesday, January 17th. They issued a "neutral" rating and a $150.00 price target on the stock. Jefferies Financial Group dropped their target price on shares of Salesforce from $240.00 to $230.00 in a research report on Thursday, December 1st. Finally, Atlantic Securities downgraded shares of Salesforce from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $200.00 to $140.00 in a research report on Friday, January 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $189.81.
Insider Buying and Selling
In other Salesforce news, CFO Amy E. Weaver sold 924 shares of the firm's stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $128.55, for a total transaction of $118,780.20. Following the completion of the transaction, the chief financial officer now owns 32,807 shares of the company's stock, valued at $4,217,339.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Amy E. Weaver sold 924 shares of Salesforce stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $128.55, for a total value of $118,780.20. Following the completion of the transaction, the chief financial officer now owns 32,807 shares of the company's stock, valued at approximately $4,217,339.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 47,096 shares of Salesforce stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $163.16, for a total value of $7,684,183.36. Following the completion of the sale, the insider now owns 95,155 shares of the company's stock, valued at $15,525,489.80. The disclosure for this sale can be found here. Insiders sold 161,564 shares of company stock valued at $24,479,624 over the last quarter. 3.60% of the stock is owned by company insiders.Salesforce Stock Up 0.0 %
Shares of NYSE CRM opened at $165.10 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Salesforce, Inc. has a one year low of $126.34 and a one year high of $234.49. The stock has a market capitalization of $165.10 billion, a P/E ratio of 589.61, a PEG ratio of 3.92 and a beta of 1.15. The firm's 50 day simple moving average is $141.17 and its two-hundred day simple moving average is $155.56.
Salesforce (NYSE:CRM – Get Rating) last announced its quarterly earnings results on Wednesday, November 30th. The CRM provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. Salesforce had a return on equity of 3.21% and a net margin of 0.92%. The company had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.83 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm's revenue was up 14.2% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 2.38 EPS for the current fiscal year.
Salesforce Company 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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Salesforce (CRM)
- Microsoft's Comeback Is Now Underway
- Can Amazon Recover Amid Tech Stock Sell-off?
- EVs, Robotics Among Growth Drivers As Chipmaker STMicro Gaps Up
- Does Oil Services Firm NOV Have Enough Energy To Maintain Rally?
- Shopify Clears Cup-With-Handle Base: Can Momentum Continue?
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM – Get Rating).
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.