Central Asset Investments & Management Holdings HK Ltd Takes $2.50 Million Position in Salesforce, Inc. (NYSE:CRM)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in Salesforce, Inc. (NYSE:CRMFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,495 shares of the CRM provider’s stock, valued at approximately $2,499,000. Salesforce accounts for approximately 2.5% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 12th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL boosted its holdings in shares of Salesforce by 1.9% in the third quarter. Gamco Investors INC. ET AL now owns 6,014 shares of the CRM provider’s stock worth $1,220,000 after buying an additional 112 shares during the period. ProVise Management Group LLC increased its stake in shares of Salesforce by 1.3% during the 3rd quarter. ProVise Management Group LLC now owns 6,199 shares of the CRM provider’s stock worth $1,257,000 after purchasing an additional 80 shares during the last quarter. AMG National Trust Bank raised its holdings in shares of Salesforce by 50.5% during the 3rd quarter. AMG National Trust Bank now owns 7,447 shares of the CRM provider’s stock valued at $1,510,000 after purchasing an additional 2,500 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Salesforce by 32.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 8,524 shares of the CRM provider’s stock worth $1,728,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its position in shares of Salesforce by 51.4% in the third quarter. Pathstone Family Office LLC now owns 66,260 shares of the CRM provider’s stock worth $13,414,000 after buying an additional 22,485 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.4 %

Shares of Salesforce stock traded down $0.91 on Friday, hitting $241.85. 6,883,831 shares of the company’s stock traded hands, compared to its average volume of 11,260,156. The company has a fifty day moving average of $275.34 and a two-hundred day moving average of $276.17. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market capitalization of $234.35 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 2.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the business posted $1.15 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. Wedbush dropped their price target on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Canaccord Genuity Group cut their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Barclays decreased their price target on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Raymond James reiterated a “strong-buy” rating and set a $325.00 price objective (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.79.

View Our Latest Report on CRM

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the sale, the chief executive officer now owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the sale, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at $2,688,171,467.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The disclosure for this sale can be found here. Insiders have sold a total of 640,870 shares of company stock valued at $182,545,398 over the last 90 days. Insiders own 3.20% of the company’s stock.

About Salesforce

(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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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