D L Carlson Investment Group Inc. Trims Stake in Salesforce, Inc. (NYSE:CRM)

D L Carlson Investment Group Inc. cut its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,812 shares of the CRM provider’s stock after selling 1,284 shares during the period. Salesforce comprises about 1.3% of D L Carlson Investment Group Inc.’s investment portfolio, making the stock its 17th biggest position. D L Carlson Investment Group Inc.’s holdings in Salesforce were worth $6,076,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the 4th quarter worth $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. lifted its holdings in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in Salesforce in the 4th quarter worth approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $299.59, for a total transaction of $4,493,850.00. Following the completion of the sale, the chief executive officer now owns 13,131,166 shares of the company’s stock, valued at $3,933,966,021.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 634,670 shares of company stock valued at $178,310,008 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 1.1 %

NYSE CRM traded up $2.58 on Friday, reaching $231.61. 5,274,101 shares of the stock traded hands, compared to its average volume of 6,700,129. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a market cap of $224.43 billion, a price-to-earnings ratio of 41.82, a PEG ratio of 2.07 and a beta of 1.25. The company has a fifty day moving average price of $270.19 and a 200-day moving average price of $276.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Raymond James reissued a “strong-buy” rating and issued a $325.00 target price (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Mizuho cut their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Piper Sandler decreased their target price on Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Bank of America raised their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Truist Financial reaffirmed a “buy” rating and set a $300.00 price objective (down from $360.00) on shares of Salesforce in a report 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

View Our Latest Report on Salesforce

Salesforce Profile

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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.

See Also

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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