Vision Financial Markets LLC Purchases New Position in Salesforce, Inc. (NYSE:CRM)

Vision Financial Markets LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 310 shares of the CRM provider’s stock, valued at approximately $104,000.

A number of other hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. 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 a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Stifel Nicolaus reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

NYSE:CRM opened at $292.05 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $325.91 and its two-hundred day simple moving average is $308.21. The stock has a market cap of $279.49 billion, a PE ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm posted $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal 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.