Callan Family Office LLC Invests $2.17 Million in Salesforce, Inc. (NYSE:CRM)

Callan Family Office LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,490 shares of the CRM provider’s stock, valued at approximately $2,170,000.

A number of other large investors also recently modified their holdings of CRM. Welch & Forbes LLC increased its position in shares of Salesforce by 3.5% during the fourth quarter. Welch & Forbes LLC now owns 9,395 shares of the CRM provider’s stock valued at $3,141,000 after purchasing an additional 316 shares during the period. E Fund Management Co. Ltd. increased its position in shares of Salesforce by 89.7% during the fourth quarter. E Fund Management Co. Ltd. now owns 38,084 shares of the CRM provider’s stock valued at $12,733,000 after purchasing an additional 18,010 shares during the period. Candriam S.C.A. increased its position in shares of Salesforce by 2.0% during the fourth quarter. Candriam S.C.A. now owns 663,879 shares of the CRM provider’s stock valued at $221,955,000 after purchasing an additional 12,815 shares during the period. Blue Barn Wealth LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $233,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $237,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the 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 completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. DA Davidson lowered their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus lowered their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Trading Down 1.2 %

Shares of CRM opened at $282.74 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $270.58 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s fifty day simple moving average is $323.68 and its 200-day simple moving average is $308.18.

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