Mosley Wealth Management Buys New Holdings in Salesforce, Inc. (NYSE:CRM)

Mosley Wealth Management purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 834 shares of the CRM provider’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $34,000. Finally, Pacifica Partners Inc. grew its holdings in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares in the company, valued at $11,903,561.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 640,870 shares of company stock worth $182,545,398. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRM shares. Morgan Stanley dropped their price objective on Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. Mizuho dropped their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Evercore ISI decreased their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, TD Cowen cut their price objective on Salesforce from $330.00 to $285.00 and set a “hold” 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 given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Price Performance

NYSE CRM traded down $0.91 on Friday, hitting $241.85. The stock had a trading volume of 6,883,831 shares, compared to its average volume of 11,260,156. The firm has a 50-day moving average of $275.34 and a 200-day moving average of $276.53. The company has a market capitalization of $234.35 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

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