Traynor Capital Management Inc. Purchases 94 Shares of Salesforce, Inc. (NYSE:CRM)

Traynor Capital Management Inc. grew its stake in Salesforce, Inc. (NYSE:CRM) by 7.8% during the first quarter, Holdings Channel reports. The firm owned 1,294 shares of the CRM provider’s stock after purchasing an additional 94 shares during the period. Traynor Capital Management Inc.’s holdings in Salesforce were worth $390,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. BKM Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter worth $34,000. Finally, Pacifica Partners Inc. increased its position in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 556,787 shares of company stock valued at $154,295,433. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRM. UBS Group decreased their target price on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. DA Davidson decreased their target price on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets decreased their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Robert W. Baird decreased their target price on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One investment 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Stock Down 2.1 %

Shares of NYSE:CRM opened at $239.84 on Tuesday. The business has a 50 day simple moving average of $261.81 and a two-hundred day simple moving average of $276.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a market capitalization of $232.40 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26.

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

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.