Headlands Technologies LLC Acquires 394 Shares of Salesforce, Inc. (NYSE:CRM)

Headlands Technologies LLC raised its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 87.2% during the third quarter, HoldingsChannel reports. The fund owned 846 shares of the CRM provider’s stock after acquiring an additional 394 shares during the quarter. Headlands Technologies LLC’s holdings in Salesforce were worth $172,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CRM. Union Savings Bank bought a new position in Salesforce during the second quarter valued at $27,000. GHP Investment Advisors Inc. increased its position in Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares during the last quarter. Live Oak Investment Partners bought a new position in Salesforce during the fourth quarter valued at $36,000. Peoples Bank KS bought a new position in Salesforce during the third quarter valued at $39,000. Finally, HBC Financial Services PLLC increased its position in Salesforce by 350.0% during the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 77.52% of the company’s stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of the 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 transaction, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $212.86, for a total transaction of $2,128,600.00. Following the transaction, the insider now owns 58,930 shares in the company, valued at approximately $12,543,839.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 216 shares of the 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 transaction, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders sold 1,408,178 shares of company stock valued at $371,005,175 in the last three months. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRM. Robert W. Baird boosted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company cut shares of Salesforce from an “overweight” rating to an “equal weight” rating and set a $280.00 price target on the stock. in a report on Wednesday, December 20th. Mizuho upped their price target on shares of Salesforce from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. BMO Capital Markets upped their price target on shares of Salesforce from $252.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, November 30th. Finally, Wedbush upped their price target on shares of Salesforce from $255.00 to $280.00 and gave the stock an “outperform” 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $262.64.

Check Out Our Latest Research Report on CRM

Salesforce Stock Performance

Shares of Salesforce stock opened at $291.30 on Friday. The firm has a market capitalization of $281.98 billion, a P/E ratio of 110.76, a PEG ratio of 1.87 and a beta of 1.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average price of $268.45 and a 200 day moving average price of $232.56. Salesforce, Inc. has a 52 week low of $159.65 and a 52 week high of $295.24.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, November 29th. The CRM provider reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $8.72 billion during 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%. Salesforce’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Sell-side analysts expect that Salesforce, Inc. will post 6.02 EPS for the current year.

Salesforce Company Profile

(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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