Salesforce, Inc. (NYSE:CRM) Shares Purchased by Seed Wealth Management Inc.

Seed Wealth Management Inc. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,690 shares of the CRM provider’s stock after buying an additional 40 shares during the period. Salesforce makes up approximately 1.1% of Seed Wealth Management Inc.’s investment portfolio, making the stock its 26th largest holding. Seed Wealth Management Inc.’s holdings in Salesforce were worth $1,115,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson decreased their price target on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Evercore ISI lowered their price target on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Jefferies Financial Group cut their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group dropped their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 5,864 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the sale, the chief financial officer now directly owns 45,231 shares in the company, valued at approximately $12,428,121.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Amy E. Weaver sold 5,864 shares of Salesforce stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the transaction, the chief financial officer now owns 45,231 shares in the company, valued at approximately $12,428,121.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the sale, the chief executive officer now owns 13,011,166 shares in the company, valued at $3,925,729,005.52. The disclosure for this sale can be found here. Insiders have sold 541,787 shares of company stock valued at $149,773,683 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM traded up $9.82 during mid-day trading on Thursday, hitting $252.97. The company had a trading volume of 12,862,790 shares, compared to its average volume of 6,938,266. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a market cap of $245.13 billion, a P/E ratio of 45.48, a PEG ratio of 2.12 and a beta of 1.25. The business’s 50-day simple moving average is $260.43 and its 200-day simple moving average is $276.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $1.15 EPS. As a group, analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal 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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.