D.A. Davidson & CO. Boosts Stake in Salesforce, Inc. (NYSE:CRM)

D.A. Davidson & CO. raised its position in Salesforce, Inc. (NYSE:CRMFree Report) by 8.4% in the third quarter, Holdings Channel reports. The institutional investor owned 54,732 shares of the CRM provider’s stock after purchasing an additional 4,258 shares during the period. D.A. Davidson & CO.’s holdings in Salesforce were worth $11,099,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CRM. Norges Bank acquired a new position in Salesforce in the 4th quarter worth about $1,420,381,000. Moneta Group Investment Advisors LLC increased its position in shares of Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after buying an additional 10,252,257 shares in the last quarter. Capital International Investors raised its stake in shares of Salesforce by 1,151.2% during the 2nd quarter. Capital International Investors now owns 7,117,212 shares of the CRM provider’s stock worth $1,503,547,000 after buying an additional 6,548,396 shares during the period. Capital World Investors lifted its position in shares of Salesforce by 30.2% during the 2nd quarter. Capital World Investors now owns 19,242,436 shares of the CRM provider’s stock valued at $4,065,157,000 after buying an additional 4,458,227 shares in the last quarter. Finally, Starboard Value LP acquired a new stake in Salesforce in the 4th quarter valued at $401,215,000. Institutional investors and hedge funds own 77.52% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. KeyCorp cut their target price on shares of Salesforce from $272.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, November 22nd. Citigroup boosted their price target on Salesforce from $229.00 to $247.00 and gave the stock a “neutral” rating in a research report on Friday, November 24th. BMO Capital Markets raised their price target on shares of Salesforce from $252.00 to $277.00 and gave the stock an “outperform” rating in a research note on Thursday, November 30th. Raymond James upped their price objective on shares of Salesforce from $280.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. Finally, Wells Fargo & Company lowered shares of Salesforce from an “overweight” rating to an “equal weight” rating and set a $280.00 target price on the stock. in a research note on Wednesday, December 20th. Nine investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

Read Our Latest Stock Analysis on CRM

Salesforce Stock Up 0.1 %

Shares of CRM opened at $288.28 on Tuesday. The company’s 50-day simple moving average is $264.63 and its 200-day simple moving average is $230.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 1 year low of $159.65 and a 1 year high of $289.29. The stock has a market capitalization of $279.06 billion, a PE ratio of 109.55, a P/E/G ratio of 1.84 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.71 billion. Salesforce had a net margin of 7.63% and a return on equity of 9.19%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. Analysts forecast that Salesforce, Inc. will post 6.02 earnings per share for the current fiscal year.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the sale, the chief executive officer now owns 13,656,166 shares in the company, valued at approximately $3,892,690,118.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at approximately $17,104,977.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the transaction, the chief executive officer now owns 13,656,166 shares of the company’s stock, valued at approximately $3,892,690,118.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,383,178 shares of company stock worth $362,709,825. Company insiders own 3.70% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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