Wellspring Financial Advisors LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Wellspring Financial Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRMFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 984 shares of the CRM provider’s stock, valued at approximately $259,000.

A number of other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Salesforce during the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the fourth quarter worth approximately $31,000. Pacifica Partners Inc. increased its position in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth approximately $34,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 1.3 %

NYSE CRM traded down $3.14 on Tuesday, reaching $233.48. The company had a trading volume of 7,420,882 shares, compared to its average volume of 6,478,079. The firm has a market cap of $226.24 billion, a price-to-earnings ratio of 42.25, a P/E/G ratio of 2.03 and a beta of 1.26. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The business has a 50 day moving average of $280.41 and a two-hundred day moving average of $276.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business posted $1.15 earnings per share. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRM. KeyCorp began coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. TD Cowen decreased their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Argus increased their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Read Our Latest Report on Salesforce

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total value of $1,258,320.00. Following the completion of the sale, the insider now owns 104,904 shares of the company’s stock, valued at $31,429,238.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 638,070 shares of company stock worth $182,912,726. Company insiders own 3.20% 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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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