Leo Wealth LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Leo Wealth LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,824 shares of the CRM provider’s stock, valued at approximately $743,000.

Other institutional investors have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. BKM Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. Finally, Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% in 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 during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. 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 research note on Thursday, May 30th. 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 research note on Friday, May 31st. KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. UBS Group reduced their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, Citigroup reduced their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Trading Down 0.6 %

NYSE CRM opened at $230.49 on Tuesday. 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 $193.68 and a 52 week high of $318.71. The stock has a market capitalization of $223.34 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The firm has a 50 day moving average of $267.36 and a two-hundred day moving average of $277.12.

Salesforce (NYSE:CRM) last issued its 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 net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the sale, the chief executive officer now owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 615,470 shares of company stock worth $172,557,838. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.