Waterloo Capital L.P. Acquires New Stake in Salesforce, Inc. (NYSE:CRM)

Waterloo Capital L.P. acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The firm acquired 1,299 shares of the CRM provider’s stock, valued at approximately $342,000.

Several other institutional investors have also bought and sold shares of CRM. Marks Group Wealth Management Inc lifted its position in shares of Salesforce by 0.7% during the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. lifted its position in shares of Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares in the last quarter. Parnassus Investments LLC increased its holdings in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after purchasing an additional 18,397 shares during the period. TD Asset Management Inc increased its holdings in shares of Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after purchasing an additional 194,224 shares during the period. Finally, Pure Financial Advisors LLC bought a new position in shares of Salesforce in the fourth quarter worth $214,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $241.85 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $275.34 and a 200-day moving average of $276.90. The firm has a market cap of $234.35 billion, a P/E ratio of 43.50, a P/E/G ratio of 2.12 and a beta of 1.26. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

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

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the completion of the sale, the chief executive officer now directly owns 12,362,327 shares in the company, valued at $2,913,924,097.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction on Monday, June 3rd. The stock was acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the acquisition, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the completion of the sale, the chief executive officer now owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 625,870 shares of company stock worth $177,970,848. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. Macquarie decreased their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Robert W. Baird decreased their price target on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. UBS Group decreased their price target on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Mizuho decreased their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Oppenheimer decreased their price target on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $292.79.

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.