Salesforce, Inc. (NYSE:CRM) Shares Bought by Harvest Management LLC

Harvest Management LLC increased its holdings in Salesforce, Inc. (NYSE:CRMFree Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,300 shares of the CRM provider’s stock after purchasing an additional 500 shares during the quarter. Salesforce accounts for 0.6% of Harvest Management LLC’s holdings, making the stock its 16th biggest position. Harvest Management LLC’s holdings in Salesforce were worth $605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at approximately $34,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of CRM stock traded down $0.91 during mid-day trading on Friday, reaching $241.85. The company’s stock had a trading volume of 6,883,831 shares, compared to its average volume of 11,260,156. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a market cap of $234.35 billion, a P/E ratio of 43.50, a PEG ratio of 2.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day moving average is $275.34 and its two-hundred day moving average is $276.90.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (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 company had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The business’s revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Robert W. Baird dropped their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Wedbush dropped their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. Jefferies Financial Group dropped their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Piper Sandler dropped their price objective on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. One investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Check Out Our Latest Stock Analysis on CRM

Insider Buying and Selling

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $304.97, for a total value of $4,574,550.00. Following the transaction, the chief executive officer now owns 13,221,166 shares of the company’s stock, valued at approximately $4,032,058,995.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $304.97, for a total transaction of $4,574,550.00. Following the transaction, the chief executive officer now owns 13,221,166 shares of the company’s stock, valued at approximately $4,032,058,995.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 640,870 shares of company stock worth $182,545,398 in the last quarter. 3.20% of the stock is owned by corporate insiders.

About Salesforce

(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.

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.