Bay Colony Advisory Group Inc d b a Bay Colony Advisors Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 95.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,740 shares of the CRM provider’s stock after acquiring an additional 848 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Salesforce were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRM. M&G PLC boosted its holdings in shares of Salesforce by 97.3% in the third quarter. M&G PLC now owns 14,273 shares of the CRM provider’s stock worth $3,911,000 after buying an additional 7,038 shares during the last quarter. Consolidated Planning Corp purchased a new position in shares of Salesforce in the third quarter worth approximately $206,000. Mainstream Capital Management LLC purchased a new position in shares of Salesforce in the third quarter worth approximately $1,745,000. Dudley Capital Management LLC boosted its holdings in shares of Salesforce by 1.2% in the third quarter. Dudley Capital Management LLC now owns 4,274 shares of the CRM provider’s stock worth $1,170,000 after buying an additional 51 shares during the last quarter. Finally, TFB Advisors LLC boosted its holdings in shares of Salesforce by 3.3% in the third quarter. TFB Advisors LLC now owns 1,986 shares of the CRM provider’s stock worth $544,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were 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 of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of 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. 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 ninety days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Canaccord Genuity Group lowered their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Macquarie lowered their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, BMO Capital Markets lowered their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned 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, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Stock Down 1.2 %

Shares of CRM opened at $282.74 on Friday. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $323.68 and a 200-day moving average price of $308.18.

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 analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Company 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.