Salesforce, Inc. (NYSE:CRM) Shares Bought by Goodman Advisory Group LLC

Goodman Advisory Group LLC increased its holdings in Salesforce, Inc. (NYSE:CRMGet Rating) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,694 shares of the CRM provider’s stock after buying an additional 6,282 shares during the period. Salesforce accounts for 2.8% of Goodman Advisory Group LLC’s holdings, making the stock its 7th largest position. Goodman Advisory Group LLC’s holdings in Salesforce were worth $8,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vectors Research Management LLC raised its position in Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Salesforce during the fourth quarter valued at approximately $27,000. MCF Advisors LLC acquired a new position in Salesforce during the first quarter valued at approximately $30,000. Retirement Group LLC raised its position in Salesforce by 65.5% during the first quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock valued at $39,000 after purchasing an additional 72 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Salesforce during the fourth quarter valued at approximately $42,000. 77.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. OTR Global downgraded shares of Salesforce to a “positive” rating in a report on Thursday, May 12th. Piper Sandler lowered their price target on shares of Salesforce from $250.00 to $220.00 and set an “overweight” rating for the company in a report on Monday, July 18th. BMO Capital Markets lowered their price target on shares of Salesforce from $260.00 to $225.00 in a report on Wednesday, June 1st. Jefferies Financial Group lowered their price target on shares of Salesforce from $330.00 to $260.00 in a report on Monday, May 23rd. Finally, UBS Group lowered their price target on shares of Salesforce from $225.00 to $185.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Four research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $270.51.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $189.53, for a total value of $435,919.00. Following the sale, the chief executive officer now directly owns 27,761,368 shares in the company, valued at approximately $5,261,612,077.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Gavin Patterson sold 1,273 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $216,957.39. Following the sale, the executive now owns 16,263 shares in the company, valued at approximately $2,771,703.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $189.53, for a total transaction of $435,919.00. Following the sale, the chief executive officer now owns 27,761,368 shares in the company, valued at approximately $5,261,612,077.04. The disclosure for this sale can be found here. Insiders have sold 80,049 shares of company stock worth $13,746,419 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

CRM traded down $1.48 on Friday, hitting $189.79. The company’s stock had a trading volume of 97,141 shares, compared to its average volume of 4,710,289. The company’s 50 day simple moving average is $174.61 and its 200-day simple moving average is $189.44. The firm has a market cap of $188.84 billion, a P/E ratio of 184.36, a price-to-earnings-growth ratio of 5.20 and a beta of 1.08. Salesforce, Inc. has a 12 month low of $154.55 and a 12 month high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.38 billion. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. Salesforce’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. Analysts forecast that Salesforce, Inc. will post 2.18 EPS for the current year.

About Salesforce

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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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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