Natixis Investment Managers International Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Natixis Investment Managers International increased its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,235 shares of the CRM provider’s stock after purchasing an additional 950 shares during the quarter. Salesforce makes up approximately 3.1% of Natixis Investment Managers International’s portfolio, making the stock its 8th biggest holding. Natixis Investment Managers International’s holdings in Salesforce were worth $44,006,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in Salesforce in the 4th quarter valued at approximately $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at $34,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM traded down $0.91 during trading on Friday, hitting $241.85. The company’s stock had a trading volume of 6,883,831 shares, compared to its average volume of 11,260,156. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $234.35 billion, a PE ratio of 43.50, a P/E/G ratio of 2.13 and a beta of 1.25. The business’s 50 day simple moving average is $275.34 and its 200-day simple moving average is $276.53.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total value of $3,535,650.00. Following the completion of the sale, the chief executive officer now owns 12,362,327 shares in the company, valued at approximately $2,913,924,097.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the sale, the chief financial officer now owns 38,483 shares in the company, valued at approximately $11,903,561.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the completion of the sale, the chief executive officer now owns 12,362,327 shares of the company’s stock, valued at approximately $2,913,924,097.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 640,870 shares of company stock worth $182,545,398. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI reduced their price target on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Stifel Nicolaus reduced their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Bank of America boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Jefferies Financial Group dropped their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, KeyCorp assumed coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $292.79.

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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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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