Salesforce, Inc. (NYSE:CRM) Shares Sold by Bank of The West

Bank of The West lowered its position in Salesforce, Inc. (NYSE:CRMGet Rating) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,059 shares of the CRM provider’s stock after selling 863 shares during the quarter. Bank of The West’s holdings in Salesforce were worth $8,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in CRM. Vectors Research Management LLC increased its stake in shares of Salesforce by 128.9% in the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 58 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Financial Enhancement Group LLC increased its stake in shares of Salesforce by 589.5% in the fourth quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 112 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $42,000. Institutional investors own 77.75% of the company’s stock.

A number of research analysts recently commented on the stock. Cowen lowered their price objective on shares of Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. KeyCorp lowered their price objective on shares of Salesforce from $281.00 to $223.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. StockNews.com assumed coverage on shares of Salesforce in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Salesforce in a research note on Friday, June 17th. Finally, Wells Fargo & Company raised their price objective on shares of Salesforce from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, June 1st. Four investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.28.

In other Salesforce news, insider Parker Harris sold 973 shares of the stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total value of $165,828.39. Following the completion of the sale, the insider now owns 93,103 shares in the company, valued at $15,867,544.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $200.68, for a total transaction of $461,564.00. Following the completion of the sale, the chief executive officer now owns 28,918,241 shares of the company’s stock, valued at approximately $5,803,312,603.88. The disclosure for this sale can be found here. Insiders sold 106,143 shares of company stock valued at $19,180,490 in the last ninety days. Insiders own 3.60% of the company’s stock.

Shares of NYSE:CRM opened at $168.20 on Tuesday. Salesforce, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $167.36 billion, a PE ratio of 163.30, a PEG ratio of 4.61 and a beta of 1.08. The company has a 50 day moving average price of $170.34 and a two-hundred day moving average price of $199.55.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts forecast that Salesforce, Inc. will post 2.18 earnings per share for the current year.

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.

See Also

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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