Centaurus Financial Inc. Sells 318 Shares of Salesforce, Inc. (NYSE:CRM)

Centaurus Financial Inc. reduced its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 9,282 shares of the CRM provider’s stock after selling 318 shares during the period. Centaurus Financial Inc.’s holdings in Salesforce were worth $2,443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Norges Bank bought a new position in shares of Salesforce in the 4th quarter worth $2,762,331,000. Capital International Investors boosted its position in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. Coatue Management LLC bought a new position in shares of Salesforce in the 4th quarter worth $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 110.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after acquiring an additional 1,780,421 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The sale was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Insiders sold a total of 634,670 shares of company stock worth $178,310,008 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRM. BMO Capital Markets reduced their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Stifel Nicolaus reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Piper Sandler reduced their target price on Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Finally, TD Cowen reduced their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

View Our Latest Stock Report on CRM

Salesforce Stock Performance

Shares of NYSE:CRM traded up $2.91 during trading on Friday, reaching $231.94. 8,833,734 shares of the stock were exchanged, 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 firm has a market cap of $224.75 billion, a PE ratio of 41.71, a PEG ratio of 2.01 and a beta of 1.25. The stock has a 50-day moving average price of $268.79 and a 200-day moving average price of $276.58. 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 data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

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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