Marcum Wealth LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Marcum Wealth LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,384 shares of the CRM provider’s stock after buying an additional 162 shares during the quarter. Marcum Wealth LLC’s holdings in Salesforce were worth $393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. Vectors Research Management LLC raised its position in shares of Salesforce by 128.9% during the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at $30,000. FSC Wealth Advisors LLC raised its position in shares of Salesforce by 1,350.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock valued at $31,000 after buying an additional 135 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in shares of Salesforce during the 1st quarter valued at $35,000. Finally, Retirement Group LLC raised its position in shares of Salesforce by 65.5% during the 1st quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock valued at $39,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.02% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $150.29, for a total transaction of $345,667.00. Following the transaction, the chief executive officer now directly owns 27,761,368 shares in the company, valued at approximately $4,172,255,996.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CRO Gavin Patterson sold 543 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $177.87, for a total value of $96,583.41. Following the sale, the executive now directly owns 17,282 shares in the company, valued at approximately $3,073,949.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $150.29, for a total transaction of $345,667.00. Following the completion of the sale, the chief executive officer now owns 27,761,368 shares in the company, valued at $4,172,255,996.72. The disclosure for this sale can be found here. Insiders have sold a total of 71,246 shares of company stock worth $12,337,917 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wedbush decreased their target price on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating and set a $150.00 price target on the stock in a report on Friday, September 2nd. UBS Group cut their target price on shares of Salesforce from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Morgan Stanley cut their target price on shares of Salesforce from $291.00 to $273.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 16th. Finally, Barclays cut their target price on shares of Salesforce from $218.00 to $202.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $242.12.

Salesforce Trading Up 1.7 %

Shares of CRM opened at $150.15 on Friday. Salesforce, Inc. has a twelve month low of $147.51 and a twelve month high of $311.75. The company has a market cap of $150.15 billion, a P/E ratio of 278.06, a P/E/G ratio of 4.01 and a beta of 1.12. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $171.85 and its 200-day simple moving average is $178.69.

Salesforce (NYSE:CRMGet Rating) last announced its earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.15. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, analysts expect that Salesforce, Inc. will post 2.2 EPS for the current year.

Salesforce announced that its board has authorized a share repurchase plan on Wednesday, August 24th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the CRM provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Salesforce Profile

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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