Carmel Capital Partners LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Carmel Capital Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,435 shares of the CRM provider’s stock after acquiring an additional 294 shares during the period. Carmel Capital Partners LLC’s holdings in Salesforce were worth $1,483,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in Salesforce during the third quarter valued at $182,000. United Advisor Group LLC lifted its position in Salesforce by 95.6% during the third quarter. United Advisor Group LLC now owns 1,715 shares of the CRM provider’s stock valued at $469,000 after purchasing an additional 838 shares during the last quarter. River Road Asset Management LLC lifted its position in Salesforce by 91.1% during the third quarter. River Road Asset Management LLC now owns 29,128 shares of the CRM provider’s stock valued at $7,973,000 after purchasing an additional 13,882 shares during the last quarter. HF Advisory Group LLC lifted its position in Salesforce by 50.7% during the third quarter. HF Advisory Group LLC now owns 5,410 shares of the CRM provider’s stock valued at $1,481,000 after purchasing an additional 1,821 shares during the last quarter. Finally, Long Run Wealth Advisors LLC bought a new position in Salesforce during the third quarter valued at $537,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 1.6 %

CRM stock opened at $292.05 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50 day moving average of $325.91 and a 200 day moving average of $308.21. The stock has a market capitalization of $279.49 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research reports. UBS Group increased their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

Salesforce Company 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.