RFG Advisory LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

RFG Advisory LLC increased its position in Salesforce, Inc. (NYSE:CRMFree Report) by 23.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,438 shares of the CRM provider’s stock after acquiring an additional 1,220 shares during the period. RFG Advisory LLC’s holdings in Salesforce were worth $1,939,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Community Trust NA grew its position in shares of Salesforce by 1,590.9% during the 1st quarter. First Community Trust NA now owns 558 shares of the CRM provider’s stock valued at $168,000 after acquiring an additional 525 shares during the period. Marcum Wealth LLC lifted its position in Salesforce by 11.0% during the first quarter. Marcum Wealth LLC now owns 2,956 shares of the CRM provider’s stock valued at $890,000 after purchasing an additional 294 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in Salesforce by 35.9% during the first quarter. Aprio Wealth Management LLC now owns 2,263 shares of the CRM provider’s stock valued at $682,000 after purchasing an additional 598 shares during the period. Park Avenue Securities LLC increased its position in Salesforce by 30.2% in the first quarter. Park Avenue Securities LLC now owns 27,994 shares of the CRM provider’s stock worth $8,431,000 after buying an additional 6,492 shares in the last quarter. Finally, KMG Fiduciary Partners LLC raised its stake in shares of Salesforce by 24.7% in the first quarter. KMG Fiduciary Partners LLC now owns 21,936 shares of the CRM provider’s stock worth $6,607,000 after buying an additional 4,344 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Raymond James reissued a “strong-buy” rating and issued a $325.00 target price (down from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Mizuho decreased their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company lowered their target price on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. KeyCorp began coverage on Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, TD Cowen lowered their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Check Out Our Latest Analysis on CRM

Salesforce Trading Up 1.3 %

Shares of CRM stock traded up $3.26 during trading hours on Friday, reaching $245.06. 15,928,785 shares of the stock were exchanged, compared to its average volume of 13,763,672. The firm has a market capitalization of $237.46 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company’s 50-day moving average price is $262.47 and its 200-day moving average price is $276.32. 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 announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Insider Transactions at Salesforce

In related news, Director Craig Conway sold 6,000 shares of Salesforce stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the completion of the sale, the director now owns 6,855 shares in the company, valued at approximately $1,642,732.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $240.40, for a total transaction of $673,120.00. Following the completion of the sale, the insider now directly owns 115,762 shares in the company, valued at approximately $27,829,184.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Conway sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the completion of the sale, the director now owns 6,855 shares in the company, valued at $1,642,732.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 575,989 shares of company stock worth $160,340,775. Insiders own 3.20% of the company’s stock.

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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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