Salesforce, Inc. (NYSE:CRM) Shares Acquired by Y.D. More Investments Ltd

Y.D. More Investments Ltd increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 29.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,845 shares of the CRM provider’s stock after purchasing an additional 4,538 shares during the period. Salesforce makes up 1.0% of Y.D. More Investments Ltd’s holdings, making the stock its 24th biggest position. Y.D. More Investments Ltd’s holdings in Salesforce were worth $4,192,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its stake in shares of Salesforce by 18.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,547,360 shares of the CRM provider’s stock valued at $329,387,000 after purchasing an additional 239,786 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Salesforce by 237.4% during the 1st quarter. Financial Management Professionals Inc. now owns 722 shares of the CRM provider’s stock valued at $144,000 after buying an additional 508 shares in the last quarter. Independence Bank of Kentucky grew its stake in Salesforce by 2.3% in the 2nd quarter. Independence Bank of Kentucky now owns 13,401 shares of the CRM provider’s stock valued at $2,831,000 after acquiring an additional 295 shares during the period. William Blair Investment Management LLC increased its holdings in Salesforce by 1.1% in the 1st quarter. William Blair Investment Management LLC now owns 1,047,620 shares of the CRM provider’s stock worth $209,294,000 after acquiring an additional 11,322 shares in the last quarter. Finally, VELA Investment Management LLC grew its position in shares of Salesforce by 5.9% in the first quarter. VELA Investment Management LLC now owns 5,040 shares of the CRM provider’s stock valued at $1,007,000 after purchasing an additional 283 shares during the period. 77.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $234.71, for a total value of $3,520,650.00. Following the completion of the transaction, the chief executive officer now owns 16,401,166 shares in the company, valued at $3,849,517,671.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $234.71, for a total transaction of $3,520,650.00. Following the transaction, the chief executive officer now directly owns 16,401,166 shares in the company, valued at $3,849,517,671.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 16,277 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $225.73, for a total transaction of $3,674,207.21. Following the completion of the sale, the chief financial officer now owns 35,611 shares of the company’s stock, valued at approximately $8,038,471.03. The disclosure for this sale can be found here. Insiders have sold 698,191 shares of company stock valued at $152,203,804 in the last ninety days. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CRM. Truist Financial reissued a “buy” rating and set a $275.00 target price on shares of Salesforce in a report on Wednesday, September 13th. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 31st. Oppenheimer raised their price target on shares of Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Loop Capital increased their price objective on shares of Salesforce from $215.00 to $230.00 and gave the company a “hold” rating in a report on Thursday, August 31st. Finally, UBS Group raised their target price on Salesforce from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $240.59.

Salesforce Stock Up 0.4 %

Shares of CRM stock traded up $0.93 on Monday, reaching $215.54. 406,401 shares of the stock were exchanged, compared to its average volume of 6,998,924. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $238.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $209.72 billion, a price-to-earnings ratio of 134.97, a PEG ratio of 1.66 and a beta of 1.19. The business’s 50 day moving average price is $218.24 and its 200 day moving average price is $206.68.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.22. The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 5.86 earnings per share 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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.