NBC Securities Inc. Has $3.74 Million Position in Salesforce, Inc. (NYSE:CRM)

NBC Securities Inc. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 2.8% in the first quarter, Holdings Channel.com reports. The fund owned 12,404 shares of the CRM provider’s stock after buying an additional 340 shares during the quarter. NBC Securities Inc.’s holdings in Salesforce were worth $3,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Marks Group Wealth Management Inc increased its stake in Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after purchasing an additional 257 shares in the last quarter. Spartan Planning & Wealth Management raised its stake in Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after buying an additional 625 shares during the period. Roman Butler Fullerton & Co. raised its stake in Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after buying an additional 105 shares during the period. Parnassus Investments LLC lifted its holdings in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after acquiring an additional 194,224 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $309.64, for a total transaction of $4,644,600.00. Following the completion of the sale, the chief executive officer now directly owns 13,101,166 shares of the company’s stock, valued at approximately $4,056,645,040.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Srinivas Tallapragada sold 2,890 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $893,934.80. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at $18,687,877.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $309.64, for a total transaction 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. Over the last quarter, insiders have sold 615,470 shares of company stock valued at $172,557,838. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Salesforce stock traded up $1.33 during mid-day trading on Wednesday, hitting $231.81. 7,119,770 shares of the company’s stock traded hands, compared to its average volume of 13,280,099. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a market cap of $224.62 billion, a price-to-earnings ratio of 41.69, a P/E/G ratio of 2.02 and a beta of 1.25. The firm has a 50 day simple moving average of $265.95 and a two-hundred day simple moving average of $276.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRMGet Free Report) last posted its earnings results 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 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. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley lowered their price target on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Evercore ISI cut their price target on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Argus increased their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Wells Fargo & Company lowered their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.79.

View Our Latest Stock Analysis on Salesforce

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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