Berkeley Capital Partners LLC Acquires 177 Shares of Salesforce, Inc. (NYSE:CRM)

Berkeley Capital Partners LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,186 shares of the CRM provider’s stock after buying an additional 177 shares during the period. Berkeley Capital Partners LLC’s holdings in Salesforce were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Morgan Stanley lifted its stake in Salesforce by 20.2% during the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Salesforce by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 15,889,819 shares of the CRM provider’s stock valued at $4,309,637,000 after acquiring an additional 805,630 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 15,448,821 shares of the CRM provider’s stock valued at $3,914,460,000 after acquiring an additional 564,493 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Salesforce by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 14,565,099 shares of the CRM provider’s stock valued at $3,701,429,000 after acquiring an additional 655,371 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Salesforce by 42.2% in the 4th quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock valued at $3,509,260,000 after acquiring an additional 4,096,666 shares during the last quarter. 77.75% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on CRM. Bank of America reduced their price target on Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, March 2nd. UBS Group cut their price target on Salesforce from $225.00 to $185.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Credit Suisse Group set a $375.00 price target on Salesforce in a research note on Thursday, March 3rd. Zacks Investment Research cut Salesforce from a “strong-buy” rating to a “hold” rating and set a $244.00 price objective on the stock. in a research report on Tuesday, February 1st. Finally, Mizuho lowered their price objective on Salesforce from $295.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 18th. Five equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $283.20.

In other news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $158.97, for a total transaction of $365,631.00. Following the completion of the sale, the chief executive officer now directly owns 28,926,000 shares in the company, valued at $4,598,366,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 20,000 shares of Salesforce stock in a transaction on Monday, March 7th. The stock was sold at an average price of $203.57, for a total transaction of $4,071,400.00. The disclosure for this sale can be found here. Insiders sold 139,735 shares of company stock worth $27,308,217 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

CRM stock traded up $3.56 during trading on Wednesday, hitting $160.49. 228,570 shares of the company’s stock traded hands, compared to its average volume of 7,407,474. The firm has a market capitalization of $158.94 billion, a P/E ratio of 106.93, a PEG ratio of 4.47 and a beta of 1.16. The business has a fifty day simple moving average of $187.98 and a two-hundred day simple moving average of $222.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. Salesforce, Inc. has a 1 year low of $154.55 and a 1 year high of $311.75.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.12. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 2.08 EPS for the current fiscal year.

Salesforce Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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