Ascent Group LLC Purchases 478 Shares of Salesforce, Inc. (NYSE:CRM)

Ascent Group LLC raised its stake in Salesforce, Inc. (NYSE:CRMGet Rating) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,988 shares of the CRM provider’s stock after buying an additional 478 shares during the quarter. Ascent Group LLC’s holdings in Salesforce were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRM. Norges Bank acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $2,689,030,000. Jennison Associates LLC increased its holdings in Salesforce by 42.2% during the fourth quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock worth $3,509,260,000 after buying an additional 4,096,666 shares during the last quarter. State Street Corp increased its holdings in Salesforce by 3.3% during the fourth quarter. State Street Corp now owns 44,253,857 shares of the CRM provider’s stock worth $11,246,233,000 after buying an additional 1,417,895 shares during the last quarter. Hhlr Advisors LTD. increased its holdings in Salesforce by 53.9% during the fourth quarter. Hhlr Advisors LTD. now owns 1,929,876 shares of the CRM provider’s stock worth $490,439,000 after buying an additional 675,700 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Salesforce by 4.6% during the first quarter. Fisher Asset Management LLC now owns 15,234,715 shares of the CRM provider’s stock worth $3,234,635,000 after buying an additional 669,616 shares during the last quarter. Institutional investors own 77.75% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $189.59 on Wednesday. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75. The business’s fifty day moving average is $176.58 and its 200 day moving average is $187.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $188.64 billion, a P/E ratio of 184.07, a P/E/G ratio of 5.24 and a beta of 1.08.

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. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. Salesforce’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their target price on shares of Salesforce from $300.00 to $250.00 in a report on Wednesday, June 1st. Cowen reduced their price objective on shares of Salesforce from $285.00 to $225.00 in a research report on Monday, May 23rd. Barclays lifted their price objective on shares of Salesforce from $208.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 1st. Loop Capital reduced their price objective on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating for the company in a research report on Thursday, June 2nd. Finally, Jefferies Financial Group reduced their price objective on shares of Salesforce from $330.00 to $260.00 in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $267.55.

Insider Activity

In related news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $157.52, for a total value of $362,296.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,556,423,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $157.52, for a total value of $362,296.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,556,423,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 924 shares of the business’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 $157,477.32. Following the completion of the sale, the chief financial officer now owns 29,989 shares of the company’s stock, valued at approximately $5,111,025.27. The disclosure for this sale can be found here. Insiders sold a total of 77,749 shares of company stock valued at $13,542,984 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Salesforce Profile

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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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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