Salesforce, Inc. (NYSE:CRM) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,001,261 shares of the CRM provider’s stock after selling 46,359 shares during the period. William Blair Investment Management LLC owned approximately 0.10% of Salesforce worth $211,526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CRM. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Salesforce by 374.1% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after buying an additional 63 shares during the last quarter. Live Oak Investment Partners purchased a new position in shares of Salesforce in the fourth quarter worth $36,000. HBC Financial Services PLLC raised its holdings in shares of Salesforce by 350.0% in the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after buying an additional 175 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Salesforce by 354.8% in the second quarter. SJS Investment Consulting Inc. now owns 191 shares of the CRM provider’s stock worth $40,000 after buying an additional 149 shares during the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 164 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $200.97, for a total value of $32,959.08. Following the sale, the chief accounting officer now directly owns 2,576 shares of the company’s stock, valued at approximately $517,698.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Sundeep G. Reddy sold 164 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $200.97, for a total transaction of $32,959.08. Following the sale, the chief accounting officer now directly owns 2,576 shares of the company’s stock, valued at approximately $517,698.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $225.73, for a total transaction of $2,257,300.00. Following the sale, the insider now directly owns 57,443 shares in the company, valued at $12,966,608.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 671,788 shares of company stock valued at $141,136,481. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CRM shares. StockNews.com started coverage on shares of Salesforce in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Raymond James raised their price target on shares of Salesforce from $260.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 31st. Barclays raised their price target on shares of Salesforce from $245.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, August 31st. BMO Capital Markets raised their target price on shares of Salesforce from $255.00 to $262.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. Finally, Wedbush raised their target price on shares of Salesforce from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.28.

Salesforce Trading Up 1.4 %

CRM stock traded up $3.01 during trading on Monday, reaching $224.23. 1,850,436 shares of the stock were exchanged, compared to its average volume of 6,424,665. 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 business has a 50 day moving average price of $208.52 and a 200-day moving average price of $211.92. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $238.22. The firm has a market capitalization of $218.18 billion, a price-to-earnings ratio of 139.13, a P/E/G ratio of 1.66 and a beta of 1.18.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. Salesforce’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 5.86 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 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.