Vigilare Wealth Management Sells 1,245 Shares of Salesforce, Inc. (NYSE:CRM)

Vigilare Wealth Management trimmed its position in Salesforce, Inc. (NYSE:CRM – Get Rating) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,067 shares of the CRM provider’s stock after selling 1,245 shares during the quarter. Vigilare Wealth Management’s holdings in Salesforce were worth $539,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC lifted its holdings in shares of Salesforce by 1,014.8% in the second quarter. Verition Fund Management LLC now owns 32,386 shares of the CRM provider’s stock worth $5,345,000 after acquiring an additional 29,481 shares during the last quarter. Stephens Inc. AR lifted its stake in Salesforce by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 137,757 shares of the CRM provider’s stock valued at $19,815,000 after purchasing an additional 656 shares during the last quarter. Archford Capital Strategies LLC boosted its position in Salesforce by 6.6% in the third quarter. Archford Capital Strategies LLC now owns 4,736 shares of the CRM provider’s stock valued at $681,000 after buying an additional 295 shares in the last quarter. Personal Capital Advisors Corp grew its stake in shares of Salesforce by 26.1% during the third quarter. Personal Capital Advisors Corp now owns 490,626 shares of the CRM provider’s stock worth $70,572,000 after buying an additional 101,463 shares during the last quarter. Finally, Amussen Hunsaker Associates LLC increased its holdings in shares of Salesforce by 16.7% during the second quarter. Amussen Hunsaker Associates LLC now owns 3,486 shares of the CRM provider’s stock worth $571,000 after buying an additional 498 shares in the last quarter. 75.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CEO Bret Steven Taylor sold 1,034 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total transaction of $132,920.70. Following the transaction, the chief executive officer now owns 901,195 shares in the company, valued at $115,848,617.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 186 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $155.59, for a total value of $28,939.74. Following the transaction, the chief accounting officer now owns 1,273 shares in the company, valued at $198,066.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bret Steven Taylor sold 1,034 shares of Salesforce stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $132,920.70. Following the transaction, the chief executive officer now directly owns 901,195 shares in the company, valued at approximately $115,848,617.25. The disclosure for this sale can be found here. Insiders have sold a total of 39,268 shares of company stock worth $6,641,547 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $184.85 on Friday. Salesforce, Inc. has a one year low of $126.34 and a one year high of $222.15. The company has a market cap of $184.85 billion, a PE ratio of 880.28, a P/E/G ratio of 2.24 and a beta of 1.21. The stock has a 50-day moving average of $166.43 and a 200-day moving average of $153.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.02.

Salesforce (NYSE:CRM – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.32. Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 4.88 EPS for the current fiscal year.

Salesforce announced that its board has initiated a stock buyback program on Wednesday, March 1st that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the CRM provider to buy up to 10.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Mizuho raised their price objective on Salesforce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Robert W. Baird boosted their price target on Salesforce from $150.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. DA Davidson upped their price objective on Salesforce from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Stifel Nicolaus cut their target price on shares of Salesforce from $200.00 to $185.00 in a research report on Monday, November 28th. Finally, UBS Group boosted their target price on shares of Salesforce from $162.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.24.

About Salesforce

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.