Private Capital Advisors Inc. Invests $9.13 Million in Salesforce, Inc. (NYSE:CRM)

Private Capital Advisors Inc. acquired a new stake in Salesforce, Inc. (NYSE:CRMGet Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,928 shares of the CRM provider’s stock, valued at approximately $9,130,000. Salesforce makes up about 1.5% of Private Capital Advisors Inc.’s portfolio, making the stock its 25th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at $27,000. Financial Enhancement Group LLC increased its position in Salesforce by 589.5% in the 4th quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 112 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Salesforce during the 4th quarter valued at approximately $35,000. MCF Advisors LLC acquired a new position in shares of Salesforce in the third quarter valued at approximately $39,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Salesforce in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 77.75% of the company’s stock.

In other news, CFO Amy E. Weaver sold 2,625 shares of the company’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $210.93, for a total transaction of $553,691.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 20,000 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $203.57, for a total value of $4,071,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 142,035 shares of company stock worth $28,192,199 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Several brokerages recently commented on CRM. Robert W. Baird reduced their price objective on shares of Salesforce from $315.00 to $300.00 in a research note on Wednesday, March 2nd. The Goldman Sachs Group set a $360.00 target price on Salesforce and gave the company a “buy” rating in a report on Wednesday, March 2nd. Piper Sandler dropped their target price on shares of Salesforce from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Loop Capital lowered their price target on shares of Salesforce from $275.00 to $225.00 in a research report on Monday, February 7th. Finally, Raymond James dropped their price target on Salesforce from $340.00 to $300.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 2nd. Seven research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $299.50.

NYSE CRM traded down $0.85 during trading on Thursday, reaching $160.42. The company’s stock had a trading volume of 9,877,240 shares, compared to its average volume of 7,433,773. The firm has a 50 day moving average price of $193.97 and a 200 day moving average price of $230.84. Salesforce, Inc. has a 12 month low of $154.64 and a 12 month high of $311.75. 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 firm has a market capitalization of $158.87 billion, a price-to-earnings ratio of 106.95, a price-to-earnings-growth ratio of 4.83 and a beta of 1.16.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. Salesforce’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 2.1 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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