Salesforce, Inc. (NYSE:CRM) Shares Bought by Lincoln National Corp

Lincoln National Corp grew its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 33.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,398 shares of the CRM provider’s stock after purchasing an additional 4,881 shares during the quarter. Lincoln National Corp’s holdings in Salesforce were worth $4,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parthenon LLC raised its holdings in Salesforce by 21.2% during the first quarter. Parthenon LLC now owns 2,000 shares of the CRM provider’s stock worth $425,000 after purchasing an additional 350 shares in the last quarter. Summitry LLC grew its position in shares of Salesforce by 22.6% during the first quarter. Summitry LLC now owns 198,496 shares of the CRM provider’s stock worth $42,145,000 after acquiring an additional 36,616 shares during the last quarter. Pine Haven Investment Counsel Inc grew its position in shares of Salesforce by 33.0% during the first quarter. Pine Haven Investment Counsel Inc now owns 1,390 shares of the CRM provider’s stock worth $295,000 after acquiring an additional 345 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of Salesforce by 3.8% during the first quarter. Checchi Capital Advisers LLC now owns 7,738 shares of the CRM provider’s stock worth $1,643,000 after acquiring an additional 283 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new position in shares of Salesforce during the first quarter worth approximately $1,133,000. Institutional investors and hedge funds own 77.75% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $189.53, for a total value of $435,919.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares in the company, valued at approximately $5,261,612,077.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $189.53, for a total value of $435,919.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares in the company, valued at approximately $5,261,612,077.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 973 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total value of $165,828.39. Following the completion of the transaction, the insider now owns 93,103 shares of the company’s stock, valued at approximately $15,867,544.29. The disclosure for this sale can be found here. Insiders sold a total of 80,049 shares of company stock worth $13,746,419 in the last 90 days. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRM shares. UBS Group lowered their target price on shares of Salesforce from $225.00 to $185.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. JPMorgan Chase & Co. lowered their price objective on shares of Salesforce from $316.00 to $275.00 in a research report on Wednesday, June 1st. Mizuho lowered their price objective on shares of Salesforce from $295.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 18th. Credit Suisse Group lowered their price objective on shares of Salesforce from $375.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 1st. Finally, Robert W. Baird lowered their price objective on shares of Salesforce from $300.00 to $260.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 1st. Four equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $270.51.

Salesforce Stock Down 0.6 %

Shares of NYSE:CRM opened at $190.17 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Salesforce, Inc. has a 1 year low of $154.55 and a 1 year high of $311.75. The stock has a market capitalization of $189.22 billion, a P/E ratio of 184.63, a PEG ratio of 5.25 and a beta of 1.08. The stock has a 50-day simple moving average of $175.12 and a 200-day simple moving average of $189.19.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Tuesday, May 31st. The CRM provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. Equities analysts forecast that Salesforce, Inc. will post 2.18 earnings per share for the current year.

About Salesforce

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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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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