Salesforce, Inc. (NYSE:CRM) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. reduced its holdings in Salesforce, Inc. (NYSE:CRMFree Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,274 shares of the CRM provider’s stock after selling 912 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Salesforce were worth $7,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce during the fourth quarter worth about $31,000. BKM Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter worth about $34,000. Finally, Pacifica Partners Inc. increased its stake 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 acquiring an additional 100 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Mizuho decreased their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. TD Cowen decreased their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Jefferies Financial Group decreased their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Read Our Latest Analysis on Salesforce

Salesforce Stock Performance

CRM traded up $2.91 during trading hours on Friday, hitting $231.94. The company’s stock had a trading volume of 8,833,734 shares, compared to its average volume of 12,624,135. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market capitalization of $224.75 billion, a PE ratio of 41.72, a PEG ratio of 2.04 and a beta of 1.25. The company has a 50-day simple moving average of $268.79 and a 200 day simple moving average of $276.94. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $299.59, for a total transaction of $4,493,850.00. Following the completion of the sale, the chief executive officer now directly owns 13,131,166 shares of the company’s stock, valued at approximately $3,933,966,021.94. The transaction was disclosed in a filing 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 on 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 of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $299.59, for a total value of $4,493,850.00. Following the completion of the sale, the chief executive officer now directly owns 13,131,166 shares of the company’s stock, valued at approximately $3,933,966,021.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 634,670 shares of company stock worth $178,310,008. 3.20% of the stock is owned by company insiders.

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 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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