Highlander Capital Management LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Highlander Capital Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 25.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,882 shares of the CRM provider’s stock after buying an additional 1,000 shares during the quarter. Highlander Capital Management LLC’s holdings in Salesforce were worth $1,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc. raised its position in shares of Salesforce by 4.1% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock valued at $306,000 after buying an additional 47 shares in the last quarter. Oak Asset Management LLC raised its position in Salesforce by 4.8% in the 4th quarter. Oak Asset Management LLC now owns 1,083 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 50 shares during the period. Guardian Capital Advisors LP raised its position in Salesforce by 0.5% in the 4th quarter. Guardian Capital Advisors LP now owns 9,302 shares of the CRM provider’s stock worth $2,212,000 after purchasing an additional 50 shares during the period. Sittner & Nelson LLC raised its position in Salesforce by 22.2% in the 4th quarter. Sittner & Nelson LLC now owns 281 shares of the CRM provider’s stock worth $71,000 after purchasing an additional 51 shares during the period. Finally, Accretive Wealth Partners LLC raised its position in Salesforce by 1.1% in the 4th quarter. Accretive Wealth Partners LLC now owns 4,674 shares of the CRM provider’s stock worth $1,188,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 77.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Roth Capital upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $242.00 target price on the stock in a research report on Wednesday, May 18th. Piper Sandler decreased their target price on shares of Salesforce from $250.00 to $220.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Citigroup raised their price target on shares of Salesforce to $192.00 in a report on Friday, June 3rd. Oppenheimer reissued a “buy” rating and issued a $205.00 price target on shares of Salesforce in a report on Friday, June 17th. Finally, BMO Capital Markets cut their price target on shares of Salesforce from $260.00 to $225.00 in a report on Wednesday, June 1st. Four equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $270.51.

Salesforce Price Performance

NYSE CRM opened at $190.17 on Friday. The company has a market capitalization of $189.22 billion, a PE ratio of 184.63, a price-to-earnings-growth ratio of 5.25 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. The business’s fifty day moving average is $175.12 and its 200 day moving average is $189.19. Salesforce, Inc. has a fifty-two week low of $154.55 and a fifty-two week high of $311.75.

Salesforce (NYSE:CRMGet Rating) last released its earnings results on Tuesday, May 31st. The CRM provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. Salesforce’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 2.18 earnings per share for the current year.

Insider Activity

In other news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $160.60, for a total value of $369,380.00. Following the transaction, the chief executive officer now directly owns 28,926,000 shares in the company, valued at $4,645,515,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Parker Harris sold 973 shares of Salesforce stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $165,828.39. Following the completion of the sale, the insider now directly owns 93,103 shares in the company, valued at $15,867,544.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $160.60, for a total value of $369,380.00. Following the sale, the chief executive officer now owns 28,926,000 shares of the company’s stock, valued at $4,645,515,600. The disclosure for this sale can be found here. Insiders have sold 80,049 shares of company stock worth $13,746,419 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Salesforce Company 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.

Featured Stories

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRMGet Rating).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.