Salesforce, Inc. (NYSE:CRM) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,154 shares of the CRM provider’s stock after selling 173 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Salesforce were worth $3,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Raymond James Financial Inc. acquired a new position in shares of Salesforce in the 4th quarter valued at $1,173,564,000. Jennison Associates LLC lifted its stake in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB lifted its stake in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. KBC Group NV lifted its stake in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after purchasing an additional 931,566 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.2 %

Shares of NYSE:CRM opened at $282.74 on Friday. The firm’s 50 day moving average price is $323.68 and its 200 day moving average price is $308.18. The stock has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CRM shares. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Northland Securities restated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Buying and Selling at Salesforce

In related news, Director Robin L. Washington purchased 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock worth $383,156,227 over the last three months. Insiders own 3.20% of the company’s stock.

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.