Vision Financial Markets LLC Makes New $104,000 Investment in Salesforce, Inc. (NYSE:CRM)

Vision Financial Markets LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 310 shares of the CRM provider’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Catalyst Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter valued at approximately $182,000. United Advisor Group LLC lifted its holdings in shares of Salesforce by 95.6% in the third quarter. United Advisor Group LLC now owns 1,715 shares of the CRM provider’s stock valued at $469,000 after purchasing an additional 838 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of Salesforce by 91.1% in the third quarter. River Road Asset Management LLC now owns 29,128 shares of the CRM provider’s stock valued at $7,973,000 after purchasing an additional 13,882 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of Salesforce by 50.7% in the third quarter. HF Advisory Group LLC now owns 5,410 shares of the CRM provider’s stock valued at $1,481,000 after purchasing an additional 1,821 shares in the last quarter. Finally, Long Run Wealth Advisors LLC bought a new position in shares of Salesforce in the third quarter valued at approximately $537,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent research reports. Scotiabank dropped their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $365.32.

Salesforce Trading Up 1.6 %

Shares of CRM stock opened at $292.05 on Thursday. 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 business has a 50-day moving average price of $325.91 and a two-hundred day moving average price of $308.21. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $279.49 billion, a P/E ratio of 48.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock valued at $383,156,227 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.