Oder Investment Management LLC Cuts Position in Salesforce, Inc. (NYSE:CRM)

Oder Investment Management LLC trimmed its position in Salesforce, Inc. (NYSE:CRMGet Rating) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,617 shares of the CRM provider’s stock after selling 267 shares during the quarter. Salesforce accounts for approximately 0.9% of Oder Investment Management LLC’s portfolio, making the stock its 29th largest holding. Oder Investment Management LLC’s holdings in Salesforce were worth $665,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRM. Retirement Planning Co of New England Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $27,000. Financial Enhancement Group LLC increased its holdings in Salesforce by 589.5% during the 4th quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 112 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $35,000. MCF Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $39,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.75% of the company’s stock.

A number of equities research analysts have recently weighed in on CRM shares. Jefferies Financial Group lowered their price target on Salesforce from $360.00 to $330.00 and set a “buy” rating for the company in a report on Monday, April 25th. OTR Global downgraded Salesforce to a “positive” rating in a report on Thursday, May 12th. Canaccord Genuity Group lowered their price target on Salesforce from $315.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. The Goldman Sachs Group set a $360.00 price target on Salesforce and gave the company a “buy” rating in a report on Wednesday, March 2nd. Finally, Credit Suisse Group set a $375.00 price objective on Salesforce in a research report on Thursday, March 3rd. Six equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $296.78.

In related news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $160.60, for a total value of $369,380.00. Following the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,645,515,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 20,000 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $203.57, for a total transaction of $4,071,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,435 shares of company stock valued at $27,226,636. 4.10% of the stock is owned by insiders.

CRM traded down $0.32 during trading on Tuesday, reaching $163.80. 226,509 shares of the stock traded hands, compared to its average volume of 7,771,962. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $162.22 billion, a PE ratio of 109.41, a P/E/G ratio of 4.75 and a beta of 1.16. The stock’s 50-day moving average is $192.83 and its 200 day moving average is $228.05. Salesforce, Inc. has a 12 month low of $154.64 and a 12 month high of $311.75.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts anticipate that Salesforce, Inc. will post 2.1 EPS for the current year.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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