GSG Advisors LLC Sells 96 Shares of Salesforce, Inc. (NYSE:CRM)

GSG Advisors LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 8.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,110 shares of the CRM provider’s stock after selling 96 shares during the period. GSG Advisors LLC’s holdings in Salesforce were worth $338,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, Director Craig Conway sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the transaction, the director now owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, 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 value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 575,989 shares of company stock valued at $160,340,775 over the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 1.3 %

NYSE:CRM traded up $3.26 during trading hours on Friday, hitting $245.06. The company’s stock had a trading volume of 15,928,785 shares, compared to its average volume of 13,763,672. The stock has a fifty day moving average of $262.47 and a 200-day moving average of $276.50. The stock has a market capitalization of $237.46 billion, a P/E ratio of 44.08, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. 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 issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company posted $1.15 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen reduced their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Barclays reduced their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Evercore ISI reduced their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Sanford C. Bernstein raised their price objective on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th. Finally, Canaccord Genuity Group reduced their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Check Out Our Latest Analysis on Salesforce

Salesforce Company Profile

(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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