AE Wealth Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,767 shares of the CRM provider’s stock after acquiring an additional 2,519 shares during the period. AE Wealth Management LLC’s holdings in Salesforce were worth $11,902,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Financial Management Professionals Inc. lifted its holdings in shares of Salesforce by 365.2% during the 4th quarter. Financial Management Professionals Inc. now owns 214 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 168 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of Salesforce by 506.1% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 167 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Salesforce by 113.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 110 shares during the period. MinichMacGregor Wealth Management LLC bought a new position in Salesforce in the 4th quarter valued at approximately $31,000. Finally, Tradewinds Capital Management LLC boosted its position in Salesforce by 44.4% in the fourth quarter. Tradewinds Capital Management LLC now owns 244 shares of the CRM provider’s stock valued at $32,000 after buying an additional 75 shares in the last quarter. Institutional investors own 75.83% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Wedbush raised their target price on shares of Salesforce from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. TD Cowen raised their target price on shares of Salesforce from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. Piper Sandler raised their target price on shares of Salesforce from $171.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Salesforce from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, Truist Financial raised their target price on shares of Salesforce from $210.00 to $250.00 in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.24.
Salesforce Trading Up 0.3 %
Salesforce (NYSE:CRM – Get Rating) last posted its earnings results on Wednesday, March 1st. The CRM provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.36 by $0.32. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $7.99 billion. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 4.89 EPS for the current fiscal year.
Salesforce announced that its Board of Directors has approved a share buyback plan on Wednesday, March 1st that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the CRM provider to purchase up to 10.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Insider Transactions at Salesforce
In related news, insider Parker Harris sold 1,250 shares of the business’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $189.06, for a total transaction of $236,325.00. Following the transaction, the insider now directly owns 99,755 shares in the company, valued at $18,859,680.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 725 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $148.16, for a total transaction of $107,416.00. Following the sale, the chief executive officer now directly owns 27,753,609 shares in the company, valued at approximately $4,111,974,709.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $189.06, for a total transaction of $236,325.00. Following the sale, the insider now owns 99,755 shares in the company, valued at $18,859,680.30. The disclosure for this sale can be found here. Insiders sold a total of 50,859 shares of company stock valued at $9,191,477 over the last three months. Corporate insiders own 3.60% of the company’s stock.
About Salesforce
Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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