238 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Pineridge Advisors LLC

Pineridge Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 238 shares of the CRM provider’s stock, valued at approximately $63,000.

Several other hedge funds also recently bought and sold shares of CRM. PNC Financial Services Group Inc. grew its holdings in Salesforce by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 181,619 shares of the CRM provider’s stock worth $36,829,000 after purchasing an additional 3,638 shares during the period. Kestra Advisory Services LLC grew its position in Salesforce by 4.9% in the third quarter. Kestra Advisory Services LLC now owns 98,545 shares of the CRM provider’s stock valued at $19,983,000 after acquiring an additional 4,564 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its stake in Salesforce by 0.9% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 8,127 shares of the CRM provider’s stock valued at $1,648,000 after purchasing an additional 71 shares during the last quarter. Prudential PLC raised its position in Salesforce by 11.3% in the third quarter. Prudential PLC now owns 50,411 shares of the CRM provider’s stock valued at $10,222,000 after purchasing an additional 5,111 shares during the last quarter. Finally, Phoenix Holdings Ltd. boosted its position in Salesforce by 48.9% during the 3rd quarter. Phoenix Holdings Ltd. now owns 19,273 shares of the CRM provider’s stock worth $3,908,000 after buying an additional 6,329 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 1.3 %

Shares of NYSE CRM traded up $2.91 during trading on Friday, reaching $231.94. The company had a trading volume of 8,833,734 shares, compared to its average volume of 12,624,135. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The business’s 50-day moving average is $268.79 and its 200 day moving average is $276.58. The stock has a market cap of $224.75 billion, a PE ratio of 41.71, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Insiders Place Their Bets

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $240.40, for a total value of $673,120.00. Following the completion of the sale, the insider now owns 115,762 shares of the company’s stock, valued at $27,829,184.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $240.40, for a total transaction of $673,120.00. Following the sale, the insider now owns 115,762 shares in the company, valued at approximately $27,829,184.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $309.64, for a total value of $4,644,600.00. Following the sale, the chief executive officer now directly owns 13,101,166 shares in the company, valued at $4,056,645,040.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 634,670 shares of company stock valued at $178,310,008. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRM shares. Argus raised their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Mizuho cut their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Sanford C. Bernstein raised their target price on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Finally, Robert W. Baird decreased their price target on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

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.