One Capital Management LLC Has $18.20 Million Holdings in Salesforce, Inc. (NYSE:CRM)

One Capital Management LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 54,434 shares of the CRM provider’s stock after selling 4,323 shares during the period. One Capital Management LLC’s holdings in Salesforce were worth $18,199,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRM. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the 4th quarter worth about $1,173,564,000. Jennison Associates LLC boosted its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB boosted its stake in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. KBC Group NV boosted its stake in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CRM shares. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. BMO Capital Markets reduced their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, DA Davidson reduced their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.32.

Salesforce Stock Up 1.6 %

NYSE:CRM opened at $292.05 on Thursday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $279.49 billion, a P/E ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. The stock’s fifty day simple moving average is $325.91 and its 200-day simple moving average is $308.21.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

About Salesforce

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.