White Knight Strategic Wealth Advisors LLC Reduces Stake in Salesforce, Inc. (NYSE:CRM)

White Knight Strategic Wealth Advisors LLC lowered its position in Salesforce, Inc. (NYSE:CRMFree Report) by 6.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,220 shares of the CRM provider’s stock after selling 85 shares during the period. White Knight Strategic Wealth Advisors LLC’s holdings in Salesforce were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CRM. Norges Bank purchased a new stake in Salesforce in the 4th quarter worth approximately $2,762,331,000. Capital International Investors boosted its position in Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Cerity Partners LLC boosted its position in Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares in the last quarter. International Assets Investment Management LLC boosted its position in Salesforce by 23,653.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after purchasing an additional 1,400,300 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Salesforce by 443.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,199,924 shares of the CRM provider’s stock worth $315,748,000 after purchasing an additional 979,108 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CRM shares. Wedbush lowered their price objective on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. BMO Capital Markets decreased their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Jefferies Financial Group decreased their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Check Out Our Latest Stock Report on Salesforce

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $309.64, for a total value of $4,644,600.00. Following the completion of the transaction, the chief executive officer now owns 13,101,166 shares in the company, valued at approximately $4,056,645,040.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $309.64, for a total value of $4,644,600.00. Following the completion of the transaction, the chief executive officer now owns 13,101,166 shares in the company, valued at approximately $4,056,645,040.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders sold a total of 640,870 shares of company stock valued at $182,545,398 in the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 0.4 %

NYSE CRM traded down $0.91 during trading on Friday, hitting $241.85. The stock had a trading volume of 6,883,831 shares, compared to its average volume of 11,260,156. The company has a market capitalization of $234.35 billion, a PE ratio of 43.50, a PEG ratio of 2.13 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $275.34 and a 200 day moving average price of $276.17. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

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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