Salesforce, Inc. (NYSE:CRM) Shares Acquired by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. grew its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,872 shares of the CRM provider’s stock after buying an additional 70 shares during the period. Salesforce accounts for 1.9% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 20th largest holding. Westbourne Investment Advisors Inc.’s holdings in Salesforce were worth $4,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CRM. Union Savings Bank purchased a new stake in Salesforce in the 2nd quarter valued at $27,000. GHP Investment Advisors Inc. raised its position in Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after buying an additional 63 shares during the last quarter. Live Oak Investment Partners purchased a new position in Salesforce during the 4th quarter worth $36,000. Peoples Bank KS purchased a new position in Salesforce during the 3rd quarter worth $39,000. Finally, HBC Financial Services PLLC raised its position in Salesforce by 350.0% during the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

Salesforce Stock Performance

Shares of CRM traded up $2.30 during midday trading on Thursday, hitting $279.18. 4,174,891 shares of the stock traded hands, compared to its average volume of 5,614,235. Salesforce, Inc. has a 1-year low of $158.10 and a 1-year high of $285.72. The business’s 50 day moving average price is $254.95 and its two-hundred day moving average price is $227.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $270.25 billion, a PE ratio of 105.42, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28.

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

Analyst Ratings Changes

A number of brokerages have commented on CRM. Raymond James upped their price objective on shares of Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $290.00 to $350.00 in a research report on Thursday, December 21st. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price objective for the company in a research report on Monday, December 18th. Royal Bank of Canada increased their price target on shares of Salesforce from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 30th. Finally, The Goldman Sachs Group downgraded shares of Salesforce from a “conviction-buy” rating to a “buy” rating in a report on Monday, October 2nd. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.64.

Check Out Our Latest Research Report on CRM

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the sale, the insider now owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total transaction of $2,841,100.00. Following the completion of the transaction, the insider now directly owns 60,976 shares in the company, valued at $17,323,891.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction 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 owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Insiders have sold a total of 1,410,412 shares of company stock valued at $362,670,305 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

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.

Featured Stories

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.