1,135 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by RFG Holdings Inc.

RFG Holdings Inc. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,135 shares of the CRM provider’s stock, valued at approximately $342,000.

Other hedge funds have also made changes to their positions in the company. Capital World Investors boosted its stake in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC raised its holdings in Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares during the period. Capital International Investors increased 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 purchasing an additional 5,935,973 shares during the period. Norges Bank bought a new position in shares of Salesforce during the 4th quarter worth about $2,762,331,000. Finally, Parnassus Investments LLC increased its holdings in shares of Salesforce by 0.3% during the 4th 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. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several research reports. Bank of America boosted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. KeyCorp started coverage on shares of Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. Evercore ISI lowered their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley lowered their target price on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Sanford C. Bernstein upped their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Stock Up 0.6 %

Shares of CRM stock opened at $243.10 on Thursday. The firm has a fifty day moving average of $261.10 and a 200-day moving average of $276.56. 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 12-month low of $193.68 and a 12-month high of $318.71. The company has a market capitalization of $235.56 billion, a price-to-earnings ratio of 43.72, a P/E/G ratio of 2.12 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction 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 in the company, valued at $2,688,171,467.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, Director G Mason Morfit bought 428,000 shares of Salesforce stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the acquisition, the director now owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 541,787 shares of company stock worth $149,773,683. 3.20% of the stock is owned by insiders.

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.