Premier Fund Managers Ltd Purchases 19,530 Shares of Salesforce, Inc. (NYSE:CRM)

Premier Fund Managers Ltd increased its position in Salesforce, Inc. (NYSE:CRM) by 75.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 45,250 shares of the CRM provider’s stock after buying an additional 19,530 shares during the quarter. Premier Fund Managers Ltd’s holdings in Salesforce were worth $12,024,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CRM. BMO Capital Markets lowered their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price on shares of Salesforce in a research report on Friday, May 24th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Stifel Nicolaus lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Robert W. Baird dropped their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $292.79.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on 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 owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the transaction, the insider now directly owns 104,904 shares in the company, valued at approximately $31,429,238.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 638,070 shares of company stock worth $182,912,726. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM traded down $1.76 on Tuesday, hitting $234.86. The company’s stock had a trading volume of 11,157,098 shares, compared to its average volume of 6,501,154. The company has a market capitalization of $227.58 billion, a PE ratio of 42.25, a PEG ratio of 2.03 and a beta of 1.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day simple moving average of $280.41 and a 200 day simple moving average of $276.47. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results 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 net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the firm posted $1.15 earnings per share. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. 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.