Andesa Financial Management Inc. Grows Position in Salesforce, Inc. (NYSE:CRM)

Andesa Financial Management Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,207 shares of the CRM provider’s stock after acquiring an additional 100 shares during the period. Andesa Financial Management Inc.’s holdings in Salesforce were worth $469,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRM. Qube Research & Technologies Ltd raised its position in Salesforce by 21.6% during the fourth quarter. Qube Research & Technologies Ltd now owns 96,505 shares of the CRM provider’s stock worth $24,525,000 after acquiring an additional 17,130 shares during the period. Waldron Private Wealth LLC raised its holdings in Salesforce by 79.6% in the fourth quarter. Waldron Private Wealth LLC now owns 8,102 shares of the CRM provider’s stock valued at $2,058,000 after acquiring an additional 3,592 shares in the last quarter. Emerald Advisers LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $85,000. RFG Advisory LLC increased its stake in Salesforce by 23.5% in the fourth quarter. RFG Advisory LLC now owns 1,349 shares of the CRM provider’s stock valued at $343,000 after purchasing an additional 257 shares during the last quarter. Finally, Tradewinds Capital Management LLC grew its position in shares of Salesforce by 5.5% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,917 shares of the CRM provider’s stock worth $487,000 after acquiring an additional 100 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM traded down $0.89 during mid-day trading on Friday, reaching $190.38. 92,244 shares of the stock were exchanged, compared to its average volume of 4,710,289. The business’s 50 day moving average is $174.61 and its 200-day moving average is $189.44. Salesforce, Inc. has a 1 year low of $154.55 and a 1 year high of $311.75. The company has a market capitalization of $189.43 billion, a P/E ratio of 184.36, a P/E/G ratio of 5.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

CRM has been the topic of a number of research reports. KeyCorp lowered their target price on shares of Salesforce from $281.00 to $223.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Morgan Stanley reduced their target price on Salesforce from $360.00 to $291.00 in a report on Monday, May 16th. OTR Global cut Salesforce to a “positive” rating in a research report on Thursday, May 12th. Robert W. Baird dropped their price objective on Salesforce from $300.00 to $260.00 and set an “outperform” rating for the company in a research report on Wednesday, June 1st. Finally, Piper Sandler lowered their price target on Salesforce from $250.00 to $220.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Four investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $270.51.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 924 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total value of $157,477.32. Following the completion of the transaction, the chief financial officer now owns 29,989 shares of the company’s stock, valued at $5,111,025.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Amy E. Weaver sold 924 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $157,477.32. Following the completion of the sale, the chief financial officer now owns 29,989 shares in the company, valued at approximately $5,111,025.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $160.60, for a total transaction of $369,380.00. Following the sale, the chief executive officer now owns 28,926,000 shares of the company’s stock, valued at approximately $4,645,515,600. The disclosure for this sale can be found here. Insiders sold a total of 80,049 shares of company stock worth $13,746,419 over the last three months. Insiders own 3.60% of the company’s stock.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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