Clarity Capital Partners LLC Takes $2.79 Million Position in Salesforce, Inc. (NYSE:CRM)

Clarity Capital Partners LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,613 shares of the CRM provider’s stock, valued at approximately $2,793,000. Salesforce accounts for about 2.0% of Clarity Capital Partners LLC’s portfolio, making the stock its 14th biggest holding.

Several other large investors have also recently bought and sold shares of CRM. Graypoint LLC raised its holdings in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC boosted its holdings in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the last quarter. Finally, Prentice Wealth Management LLC grew its stake in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. Raymond James reiterated a “strong-buy” rating and issued a $325.00 price target (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. DA Davidson cut their target price on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Stifel Nicolaus lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Mizuho dropped their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Jefferies Financial Group reduced their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Price Performance

Shares of CRM traded up $2.86 during midday trading on Friday, hitting $231.89. The company’s stock had a trading volume of 8,830,326 shares, compared to its average volume of 6,726,655. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock has a market capitalization of $224.70 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25. The company’s fifty day simple moving average is $268.79 and its two-hundred day simple moving average is $276.58.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the sale, the insider now owns 104,904 shares of the company’s stock, valued at approximately $31,429,238.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $299.60, for a total value of $1,258,320.00. Following the completion of the transaction, the insider now owns 104,904 shares of the company’s stock, valued at $31,429,238.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Conway sold 6,000 shares of Salesforce stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the sale, the director now owns 6,855 shares in the company, valued at $1,642,732.20. The disclosure for this sale can be found here. Insiders sold a total of 634,670 shares of company stock worth $178,310,008 in the last three months. 3.20% of the stock is owned by corporate insiders.

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.