Salesforce, Inc. (NYSE:CRM) Shares Acquired by Prentice Wealth Management LLC

Prentice Wealth Management LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% in the first quarter, Holdings Channel reports. The institutional investor owned 2,416 shares of the CRM provider’s stock after buying an additional 122 shares during the quarter. Prentice Wealth Management LLC’s holdings in Salesforce were worth $728,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRM. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at about $31,000. BKM Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at about $34,000. Finally, Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% during the fourth 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. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several research reports. Macquarie dropped their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Sanford C. Bernstein boosted their price target on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. BMO Capital Markets dropped their price target on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Robert W. Baird dropped their price target on Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Trading Up 0.2 %

Shares of CRM traded up $0.52 during trading hours on Wednesday, hitting $242.28. 2,291,227 shares of the stock traded hands, compared to its average volume of 6,872,790. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm has a market capitalization of $234.77 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The business has a fifty day moving average of $261.10 and a 200-day moving average of $276.56.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $301.72, for a total value of $4,525,800.00. Following the transaction, the chief executive officer now owns 13,011,166 shares of the company’s stock, valued at $3,925,729,005.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the sale, the chief executive officer now owns 13,011,166 shares of the company’s stock, valued at $3,925,729,005.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 5,864 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the sale, the chief financial officer now directly owns 45,231 shares in the company, valued at approximately $12,428,121.87. The disclosure for this sale can be found here. Insiders have sold 541,787 shares of company stock valued at $149,773,683 over the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Profile

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.