United Capital Financial Advisers LLC Acquires 3,659 Shares of Salesforce, Inc. (NYSE:CRM)

United Capital Financial Advisers LLC lifted its holdings in Salesforce, Inc. (NYSE:CRMGet Rating) by 2.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,826 shares of the CRM provider’s stock after purchasing an additional 3,659 shares during the period. United Capital Financial Advisers LLC’s holdings in Salesforce were worth $28,202,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vectors Research Management LLC lifted its stake in shares of Salesforce by 128.9% in the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 58 shares during the period. MCF Advisors LLC bought a new stake in Salesforce during the 1st quarter worth approximately $30,000. FSC Wealth Advisors LLC raised its stake in Salesforce by 1,350.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after acquiring an additional 135 shares during the period. Retirement Group LLC raised its stake in Salesforce by 65.5% during the 1st quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock worth $39,000 after acquiring an additional 72 shares during the period. Finally, Rise Advisors LLC bought a new stake in Salesforce during the 4th quarter worth approximately $53,000. Institutional investors own 77.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. Loop Capital decreased their target price on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating on the stock in a research note on Thursday, June 2nd. Piper Sandler reduced their price objective on shares of Salesforce from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, August 25th. Wedbush reduced their price objective 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. Raymond James reduced their price objective on shares of Salesforce from $250.00 to $225.00 in a research report on Thursday, August 25th. Finally, Credit Suisse Group reduced their price objective on shares of Salesforce from $315.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $244.11.

Salesforce Stock Performance

CRM stock opened at $162.59 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day moving average price of $174.64 and a 200 day moving average price of $181.73. The company has a market capitalization of $162.59 billion, a P/E ratio of 301.09, a PEG ratio of 4.41 and a beta of 1.12. Salesforce, Inc. has a 1-year low of $150.48 and a 1-year high of $311.75.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Wednesday, August 24th. The CRM provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.70 billion. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 2.2 EPS for the current fiscal year.

Salesforce declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 24th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the CRM provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $167.94, for a total value of $386,262.00. Following the completion of the transaction, the chief executive officer now directly owns 28,761,368 shares in the company, valued at $4,830,184,141.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $167.94, for a total value of $386,262.00. Following the completion of the transaction, the chief executive officer now directly owns 28,761,368 shares in the company, valued at $4,830,184,141.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 516 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $177.86, for a total transaction of $91,775.76. Following the completion of the transaction, the chief financial officer now owns 30,486 shares of the company’s stock, valued at $5,422,239.96. The disclosure for this sale can be found here. Insiders sold 73,149 shares of company stock worth $12,800,383 over the last three months. 3.60% of the stock is owned by corporate insiders.

Salesforce Company Profile

(Get Rating)

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.

Featured Articles

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.