Stansberry Asset Management LLC Sells 366 Shares of Salesforce, Inc. (NYSE:CRM)

Stansberry Asset Management LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,781 shares of the CRM provider’s stock after selling 366 shares during the quarter. Stansberry Asset Management LLC’s holdings in Salesforce were worth $1,309,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC raised its stake in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC increased its stake in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares in the last quarter. AIA Group Ltd increased its stake in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of Salesforce in the 3rd quarter valued at $3,672,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in shares of Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after acquiring an additional 10,656 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Raymond James upped their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Piper Sandler increased their target price on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.50.

Salesforce Stock Performance

NYSE:CRM opened at $367.94 on Thursday. The firm’s fifty day moving average price is $306.55 and its 200 day moving average price is $271.81. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $351.75 billion, a price-to-earnings ratio of 60.52, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.31% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Insider Buying and Selling

In other news, COO Brian Millham sold 60,522 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,982 shares of company stock worth $41,591,457 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company Profile

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.