Richelieu Gestion SA Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Richelieu Gestion SA increased its stake in Salesforce, Inc. (NYSE:CRM) by 8.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 650 shares of the CRM provider’s stock after buying an additional 50 shares during the period. Richelieu Gestion SA’s holdings in Salesforce were worth $196,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Graypoint LLC raised its stake in shares of Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in shares of Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC raised its holdings in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the transaction, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director G Mason Morfit bought 428,000 shares of Salesforce stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the acquisition, the director now owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 541,787 shares of company stock worth $149,773,683. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on CRM shares. TD Cowen dropped their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Citigroup lowered their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Piper Sandler decreased their price target on Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Trading Up 0.6 %

Shares of CRM traded up $1.37 during midday trading on Wednesday, reaching $243.13. The company had a trading volume of 3,049,858 shares, compared to its average volume of 6,877,961. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. 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 firm has a 50 day simple moving average of $261.10 and a 200-day simple moving average of $276.56. The stock has a market cap of $235.59 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $1.15 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Profile

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.