According to the latest 13F filing by the Securities and Exchange Commission, (SEC), ) increased its share price by 4.6% in the first quarter. The institutional investor now owns 29,276 of the CRM provider stock, after adding 1,291 more shares over the past period. Benjamin F. Edwards & Company Inc. held 5,849,000 shares of Salesforce as per its latest SEC filing.
Several other institutional investors have also recently increased or decreased their CRM stakes. Simplicity Solutions LLC increased its Salesforce holdings by 321.9% in the first quarter. Simplicity Solutions LLC owns 30,865 of the CRM provider’s stock, worth $6.166,000. This is after adding 23,550 additional shares. Ballentine Partners LLC increased its stake in Salesforce during the first quarter by 43.2%. Ballentine Partners LLC owns 11,489 of the CRM provider’s stock, valued at $2295,000. This is after buying an additional 3,464 during the last quarter. Securian Asset Management Inc. increased its Salesforce holdings by 0.8% in the first quarter. Securian Asset Management Inc. owns 82 837 shares worth $16,549,000 of the CRM provider after purchasing 627 additional shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its Salesforce position by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. owns 3,339 481 shares worth $667 162,000, after purchasing an additional 37 836 shares in the last quarter. DORCHESTER Wealth Management Co purchased a new position of shares in Salesforce during the first quarter, valued at $280,000. In a report published on Wednesday, Salesforce was downgraded from a "strong-buy" rating to a "buy". Loop Capital raised their price target on Salesforce in a report published on June 1st from $190.00 up to $215.00. Needham & Company LLC increased their target price for shares of Salesforce in a Wednesday report from $230.00 up to $250.00. Piper Sandler raised their price target for shares of Salesforce in a report published on Thursday, 1st June from $230.00 up to $248.00. Stifel Nicolaus also raised its price target on Salesforce shares from $240.00 up to $250.00 on Thursday, 1st June in a research report. One analyst gave the stock a sell recommendation, while thirteen others assigned a hold recommendation. Twenty-four analysts have given the stock a buy recommendation, and one has given it a strong purchase rating. MarketBeat data shows that Salesforce has an average rating 'Moderate' Buy and a consensus price target of $223.22.
Salesforce Stock Performance
Trading hours were held on Thursday and the stock reached $229.03, up $1.75. Stock traded at 2,330,472 compared to 7,678,605 shares on average. The company's 50-day moving-average is $210.30, and its two-hundred-day moving-average is $185.79. The company's quick ratio is 1.02, its current ratio is 1.02 and it has a debt to equity ratio of 0.16.
The company last released its results on May 31st. The CRM provider posted $1.69 per share for the quarter. This was $0.08 higher than the consensus estimate of $1.6. Salesforce's return on equity was 5.75%, and its net margin was 1.18%. The company had a revenue of $8.25billion during the quarter compared with analysts' expectations of $9.17billion. In the same quarter last year, the company earned $0.41 per share. Analysts expect Salesforce, Inc. to post an average of 5.26 EPS in the current fiscal.
On Wednesday, 14th June, 500,000 shares were sold in one transaction. The stock was bought at a price of $209.14 on average, totaling $104,570,000.00. After the completion of this transaction, the CEO now owns directly 16,671,609 company shares, valued at $3.486,700.306.26. Sundeep G. Reddy, the CAO of the company, sold 164 shares in a deal on Monday, 24th April. The stock was purchased at an average of $196.33 for a total of $32,198.12. After the sale was completed, the chief accountant now owns directly 1,884 shares worth approximately $369.885.72. On Wednesday, 14th June, 500,000 shares were sold in an exchange. The stock was bought at an average of $209.14 for a value of $104,570,000.00. After the completion of this transaction, the CEO now owns directly 16,671,609 company shares, valued at around $3,486,700.306.26. Insiders sold 895 723 shares of stock in the company worth $188 539 245. Insiders control 3.70% the stock of the company.
What is Salesforce?
Salesforce, Inc. provides CRM technology that connects companies and their customers worldwide. Salesforce's services include sales, which stores data, monitors leads and progresses, forecasts opportunities, gains insights through analytics, relationship intelligence and delivers quotes, contracts and invoices, as well as service, which enables companies deliver highly personalized and trusted customer service at scale.
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