Austin Private Wealth LLC Has $851,000 Position in Salesforce, Inc. (NYSE:CRM)

Austin Private Wealth LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 30.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,791 shares of the CRM provider’s stock after buying an additional 655 shares during the period. Austin Private Wealth LLC’s holdings in Salesforce were worth $851,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Salesforce in the 4th quarter valued at approximately $2,762,331,000. Capital International Investors lifted its holdings in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Cerity Partners LLC lifted its holdings in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after acquiring an additional 3,226,512 shares during the last quarter. Coatue Management LLC bought a new position in Salesforce in the fourth quarter valued at about $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $301.45, for a total transaction of $4,521,750.00. Following the completion of the transaction, the chief executive officer now directly owns 13,041,166 shares in the company, valued at $3,931,259,490.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 556,787 shares of company stock worth $154,295,433 in the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of CRM stock traded up $2.14 during trading on Tuesday, hitting $242.08. The company had a trading volume of 543,627 shares, compared to its average volume of 6,864,341. 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 $234.58 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $261.81 and its two-hundred day moving average is $276.63.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Citigroup cut their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Mizuho dropped their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Sanford C. Bernstein lifted their price target on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. KeyCorp began coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Wells Fargo & Company reduced their price objective on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.