Salesforce, Inc. (NYSE:CRM) Shares Bought by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,834 shares of the CRM provider’s stock after acquiring an additional 228 shares during the period. St. Johns Investment Management Company LLC’s holdings in Salesforce were worth $1,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital World Investors raised its position 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 worth $5,147,402,000 after purchasing an additional 457,463 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Salesforce by 5.3% during 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 purchasing an additional 752,566 shares during the last quarter. Capital International Investors raised its position 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 last quarter. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth approximately $2,762,331,000. Finally, Parnassus Investments LLC raised its position 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 last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the transaction, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director G Mason Morfit bought 428,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was purchased at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the transaction, the director now owns 3,914,309 shares in the company, valued at approximately $912,699,429.53. The disclosure for this purchase can be found here. Insiders sold a total of 541,787 shares of company stock valued at $149,773,683 in the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $243.10 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm’s 50-day simple moving average is $261.10 and its 200-day simple moving average is $276.56. The firm has a market cap of $235.56 billion, a PE ratio of 43.72, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup cut their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and issued a $300.00 target price (down from $360.00) on shares of Salesforce 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 for the company in a research note on Thursday, May 30th. Argus lifted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Bank of America boosted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.