GPM Growth Investors Inc. Decreases Position in Salesforce, Inc. (NYSE:CRM)

GPM Growth Investors Inc. cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 10,444 shares of the CRM provider’s stock after selling 218 shares during the quarter. Salesforce comprises 1.5% of GPM Growth Investors Inc.’s holdings, making the stock its 25th largest position. GPM Growth Investors Inc.’s holdings in Salesforce were worth $3,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the third quarter valued at approximately $27,000. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $292.05 on Thursday. The stock has a 50-day simple moving average of $325.91 and a two-hundred day simple moving average of $308.21. The firm has a market capitalization of $279.49 billion, a P/E ratio of 48.03, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin L. Washington bought 1,695 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,108,793 shares of company stock worth $383,156,227 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CRM shares. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital reduced their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Macquarie dropped their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.