Nwam LLC Buys 488 Shares of Salesforce, Inc. (NYSE:CRM)

Nwam LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,041 shares of the CRM provider’s stock after purchasing an additional 488 shares during the period. Nwam LLC’s holdings in Salesforce were worth $1,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Salesforce during the 3rd quarter worth $6,789,000. Voya Investment Management LLC raised its position in shares of Salesforce by 1.0% during the third quarter. Voya Investment Management LLC now owns 372,747 shares of the CRM provider’s stock worth $101,097,000 after acquiring an additional 3,858 shares during the last quarter. Candlestick Capital Management LP raised its position in shares of Salesforce by 719.0% during the third quarter. Candlestick Capital Management LP now owns 203,204 shares of the CRM provider’s stock worth $55,113,000 after acquiring an additional 178,392 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Salesforce by 1.6% during the fourth quarter. Trust Co. of Vermont now owns 34,489 shares of the CRM provider’s stock worth $8,765,000 after acquiring an additional 528 shares during the last quarter. Finally, Veritable L.P. raised its position in shares of Salesforce by 2.9% during the third quarter. Veritable L.P. now owns 17,026 shares of the CRM provider’s stock worth $4,618,000 after acquiring an additional 482 shares during the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.

Shares of CRM opened at $164.12 on Tuesday. The stock’s 50-day simple moving average is $192.83 and its 200 day simple moving average is $228.05. The stock has a market capitalization of $162.54 billion, a price-to-earnings ratio of 109.41, a price-to-earnings-growth ratio of 4.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. Salesforce, Inc. has a 52-week low of $154.64 and a 52-week high of $311.75.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The business 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%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, research analysts forecast that Salesforce, Inc. will post 2.1 earnings per share for the current fiscal year.

In other Salesforce news, insider Srinivas Tallapragada sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $203.57, for a total value of $4,071,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 510 shares of the firm’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $171.68, for a total value of $87,556.80. Following the completion of the sale, the chief financial officer now directly owns 29,075 shares in the company, valued at approximately $4,991,596. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,435 shares of company stock worth $27,226,636. Insiders own 4.10% of the company’s stock.

A number of brokerages have weighed in on CRM. Raymond James lowered their target price on Salesforce from $340.00 to $300.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 2nd. Robert W. Baird lowered their target price on Salesforce from $315.00 to $300.00 in a report on Wednesday, March 2nd. Canaccord Genuity Group lowered their target price on Salesforce from $315.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. BMO Capital Markets lifted their target price on Salesforce from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. Finally, OTR Global downgraded Salesforce to a “positive” rating in a report on Thursday, May 12th. Seven research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $296.78.

About Salesforce (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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