Shell Asset Management Co. Has $24.77 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Shell Asset Management Co. grew its position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,450 shares of the CRM provider’s stock after buying an additional 12,571 shares during the quarter. Salesforce makes up about 0.5% of Shell Asset Management Co.’s investment portfolio, making the stock its 26th largest holding. Shell Asset Management Co.’s holdings in Salesforce were worth $24,765,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nicolet Bankshares Inc. increased its holdings in Salesforce by 0.5% during the 3rd quarter. Nicolet Bankshares Inc. now owns 8,011 shares of the CRM provider’s stock worth $2,173,000 after purchasing an additional 36 shares in the last quarter. Private Portfolio Partners LLC lifted its stake in Salesforce by 2.4% in the third quarter. Private Portfolio Partners LLC now owns 1,557 shares of the CRM provider’s stock valued at $422,000 after purchasing an additional 37 shares during the last quarter. Twin Focus Capital Partners LLC lifted its position in shares of Salesforce by 2.2% during the third quarter. Twin Focus Capital Partners LLC now owns 1,746 shares of the CRM provider’s stock worth $474,000 after acquiring an additional 38 shares in the last quarter. Encompass Wealth Advisors LLC lifted its position in shares of Salesforce by 1.0% during the third quarter. Encompass Wealth Advisors LLC now owns 3,766 shares of the CRM provider’s stock worth $1,021,000 after acquiring an additional 38 shares in the last quarter. Finally, Wagner Wealth Management LLC lifted its position in shares of Salesforce by 17.3% during the third quarter. Wagner Wealth Management LLC now owns 271 shares of the CRM provider’s stock worth $81,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 77.16% of the company’s stock.

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $174.69, for a total transaction of $401,787.00. Following the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $5,053,082,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 2,625 shares of the firm’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $210.93, for a total value of $553,691.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,268 shares of company stock valued at $33,915,688. 4.10% of the stock is currently owned by company insiders.

CRM has been the topic of a number of research analyst reports. BMO Capital Markets increased their target price on Salesforce from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. Jefferies Financial Group dropped their target price on shares of Salesforce from $360.00 to $330.00 and set a “buy” rating for the company in a report on Monday, April 25th. UBS Group raised their price objective on shares of Salesforce from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, March 2nd. Royal Bank of Canada set a $325.00 target price on shares of Salesforce in a report on Wednesday, March 2nd. Finally, StockNews.com assumed coverage on shares of Salesforce in a report on Thursday, March 31st. They set a “hold” rating for the company. Seven analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Buy” and an average target price of $299.50.

NYSE CRM traded down $9.80 during trading on Friday, reaching $175.94. The company’s stock had a trading volume of 7,110,752 shares, compared to its average volume of 6,459,281. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $174.18 billion, a PE ratio of 117.29, a PEG ratio of 4.97 and a beta of 1.10. The business has a 50-day moving average price of $199.97 and a 200-day moving average price of $238.02. Salesforce, Inc. has a 1-year low of $167.55 and a 1-year high of $311.75.

Salesforce (NYSE:CRM – Get Rating) last announced its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.12. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Salesforce’s revenue was up 25.9% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 2.1 earnings per share for the current year.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Recommended Stories