Exencial Wealth Advisors LLC Sells 73 Shares of Salesforce, Inc. (NYSE:CRM)

by · The Cerbat Gem

Exencial Wealth Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM – Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,831 shares of the CRM provider’s stock after selling 73 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Salesforce were worth $980,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CRM. Fairfield Bush & CO. grew its position in Salesforce by 8.7% during the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after buying an additional 357 shares in the last quarter. Roundview Capital LLC boosted its holdings in shares of Salesforce by 18.8% in the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after purchasing an additional 3,809 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Salesforce by 42.8% in the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after purchasing an additional 186 shares in the last quarter. Ergoteles LLC purchased a new position in shares of Salesforce in the 1st quarter worth about $455,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Salesforce by 21.3% in the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after purchasing an additional 151,440 shares in the last quarter. 77.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Salesforce from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. BMO Capital Markets boosted their target price on Salesforce from $252.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. Needham & Company LLC boosted their target price on Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, KeyCorp lowered their target price on Salesforce from $272.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, November 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

Read Our Latest Research Report on CRM

Salesforce Stock Performance

Salesforce stock opened at $285.66 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $276.52 billion, a P/E ratio of 108.62, a PEG ratio of 1.83 and a beta of 1.28. The stock’s 50 day moving average is $263.37 and its 200 day moving average is $230.43. Salesforce, Inc. has a twelve month low of $159.65 and a twelve month high of $289.29.

Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.71 billion. Salesforce had a return on equity of 9.19% and a net margin of 7.63%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 6.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $207.23, for a total transaction of $2,072,300.00. Following the sale, the insider now directly owns 58,930 shares in the company, valued at approximately $12,212,063.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $207.23, for a total transaction of $2,072,300.00. Following the sale, the insider now directly owns 58,930 shares in the company, valued at approximately $12,212,063.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $206.27, for a total value of $3,094,050.00. Following the sale, the chief executive officer now owns 14,996,166 shares in the company, valued at $3,093,259,160.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,408,178 shares of company stock worth $367,876,175. Insiders own 3.70% of the company’s stock.

Salesforce Profile

(Free Report)

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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