Barrier Capital Management LLC cut its stake in Salesforce, Inc. (NYSE:CRM – Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,783 shares of the CRM provider’s stock after selling 6,900 shares during the quarter. Salesforce accounts for about 6.5% of Barrier Capital Management LLC’s portfolio, making the stock its 8th biggest position. Barrier Capital Management LLC’s holdings in Salesforce were worth $5,550,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Graham Capital Wealth Management LLC purchased a new stake in shares of Salesforce in the first quarter worth approximately $233,743,000. NewSquare Capital LLC increased its position in shares of Salesforce by 132.8% during the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 85 shares during the last quarter. Ahrens Investment Partners LLC purchased a new stake in shares of Salesforce during the first quarter valued at approximately $40,000. Aspire Private Capital LLC purchased a new stake in shares of Salesforce during the first quarter valued at approximately $39,956,000,000. Finally, WealthPlan Investment Management LLC purchased a new stake in shares of Salesforce during the first quarter valued at approximately $45,000. 77.52% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Salesforce
In other news, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $225.05, for a total value of $36,908.20. Following the transaction, the chief accounting officer now owns 2,230 shares in the company, valued at $501,861.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $225.05, for a total value of $36,908.20. Following the transaction, the chief accounting officer now owns 2,230 shares in the company, valued at $501,861.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $208.65, for a total value of $260,812.50. Following the completion of the transaction, the insider now owns 100,309 shares in the company, valued at approximately $20,929,472.85. The disclosure for this sale can be found here. Insiders have sold 1,166,195 shares of company stock worth $249,330,567 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on Salesforce
Salesforce Trading Up 0.3 %
NYSE CRM opened at $225.46 on Tuesday. The stock’s 50-day simple moving average is $217.67 and its two-hundred day simple moving average is $205.15. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $238.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $219.37 billion, a price-to-earnings ratio of 141.80, a PEG ratio of 1.68 and a beta of 1.19.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts forecast that Salesforce, Inc. will post 5.86 EPS for the current fiscal year.
About Salesforce
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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