Sowell Financial Services LLC Sells 136 Shares of Salesforce, Inc. (NYSE:CRM)

Sowell Financial Services LLC lessened its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,859 shares of the CRM provider’s stock after selling 136 shares during the quarter. Sowell Financial Services LLC’s holdings in Salesforce were worth $3,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Union Savings Bank acquired a new position in Salesforce in the 2nd quarter worth about $27,000. Hanseatic Management Services Inc. purchased a new position in Salesforce in the second quarter worth approximately $40,000. Peoples Bank KS purchased a new position in Salesforce in the third quarter worth approximately $39,000. Quarry LP purchased a new position in Salesforce in the second quarter worth approximately $41,000. Finally, Emerald Advisers LLC purchased a new position in Salesforce in the third quarter worth approximately $41,000. Institutional investors and hedge funds own 77.52% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 2,628 shares of Salesforce stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $224.85, for a total value of $590,905.80. Following the completion of the sale, the chief financial officer now directly owns 37,048 shares of the company’s stock, valued at approximately $8,330,242.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Insiders sold 1,383,178 shares of company stock worth $362,709,825 in the last ninety days. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRM. Royal Bank of Canada increased their price objective on Salesforce from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. Robert W. Baird raised their price target on Salesforce from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, January 23rd. Piper Sandler raised their price objective on Salesforce from $266.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Argus raised their price objective on Salesforce from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Finally, Mizuho raised their price target on Salesforce from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. Nine analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.64.

Get Our Latest Stock Report on CRM

Salesforce Trading Up 0.1 %

Shares of Salesforce stock opened at $286.02 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $159.65 and a 1 year high of $289.29. The company has a market capitalization of $276.87 billion, a P/E ratio of 108.62, a P/E/G ratio of 1.84 and a beta of 1.28. The business has a 50 day moving average price of $263.37 and a 200 day moving average price of $230.41.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. Salesforce had a return on equity of 9.19% and a net margin of 7.63%. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 6.02 EPS for the current fiscal year.

About Salesforce

(Free Report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes 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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