Newbridge Financial Services Group Inc. Purchases 743 Shares of Salesforce, Inc. (NYSE:CRM)

Newbridge Financial Services Group Inc. boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 25.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,701 shares of the CRM provider’s stock after buying an additional 743 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Salesforce were worth $974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. Norges Bank purchased a new stake in Salesforce in the fourth quarter worth $2,762,331,000. Capital International Investors increased its stake in Salesforce by 76.4% in the fourth 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 period. Cerity Partners LLC increased its stake in Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the period. Coatue Management LLC purchased a new stake in Salesforce in the fourth quarter worth $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Salesforce by 110.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Craig Conway sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the transaction, the director now owns 6,855 shares in the company, valued at approximately $1,642,732.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $240.40, for a total value of $673,120.00. Following the completion of the transaction, the insider now directly owns 115,762 shares of the company’s stock, valued at $27,829,184.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the transaction, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The disclosure for this sale can be found here. Insiders have sold 615,470 shares of company stock worth $172,557,838 in the last quarter. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Mizuho reduced their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Citigroup dropped their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Barclays dropped their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Morgan Stanley dropped their price objective on Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Stifel Nicolaus reduced their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One investment 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Stock Up 0.2 %

Shares of CRM traded up $0.37 during mid-day trading on Tuesday, reaching $230.85. The company’s stock had a trading volume of 880,841 shares, compared to its average volume of 6,713,836. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock has a market cap of $223.69 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50 day moving average is $267.36 and its 200 day moving average is $277.12.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.47 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.