Cornerstone Advisory LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Cornerstone Advisory LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,119 shares of the CRM provider’s stock after acquiring an additional 55 shares during the period. Cornerstone Advisory LLC’s holdings in Salesforce were worth $294,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $34,000. Finally, Pacifica Partners Inc. grew its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, 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 sale, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the sale, the chief executive officer now directly owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The disclosure for this sale can be found here. Insiders have sold 638,070 shares of company stock worth $182,912,726 over the last three months. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial restated a “buy” rating and set a $300.00 price objective (down from $360.00) on shares of Salesforce in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Monday, April 15th. Stifel Nicolaus reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday. Finally, Bank of America lifted their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Trading Up 0.9 %

NYSE CRM traded up $2.18 on Monday, reaching $236.62. The stock had a trading volume of 19,947,311 shares, compared to its average volume of 6,470,923. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $281.80 and a two-hundred day moving average price of $276.36. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The firm has a market capitalization of $229.28 billion, a price-to-earnings ratio of 42.56, a P/E/G ratio of 2.03 and a beta of 1.26.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating 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 business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.46 EPS 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.