Prudential PLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) by 48.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,249 shares of the CRM provider’s stock after buying an additional 8,939 shares during the period. Prudential PLC’s holdings in Salesforce were worth $6,924,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Salesforce during the third quarter worth about $6,789,000. Voya Investment Management LLC boosted its stake in shares of Salesforce by 1.0% during the third quarter. Voya Investment Management LLC now owns 372,747 shares of the CRM provider’s stock worth $101,097,000 after buying an additional 3,858 shares during the period. Candlestick Capital Management LP boosted its stake in shares of Salesforce by 719.0% during the third quarter. Candlestick Capital Management LP now owns 203,204 shares of the CRM provider’s stock worth $55,113,000 after buying an additional 178,392 shares during the period. Trust Co. of Vermont lifted its position in Salesforce by 1.6% in the fourth quarter. Trust Co. of Vermont now owns 34,489 shares of the CRM provider’s stock valued at $8,765,000 after purchasing an additional 528 shares during the period. Finally, Veritable L.P. boosted its holdings in Salesforce by 2.9% in the 3rd quarter. Veritable L.P. now owns 17,026 shares of the CRM provider’s stock valued at $4,618,000 after purchasing an additional 482 shares in the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.
CRM has been the topic of a number of analyst reports. Citigroup lifted their price target on Salesforce from $220.00 to $233.00 in a research note on Wednesday, March 2nd. CICC Research assumed coverage on Salesforce in a research note on Monday, May 9th. They issued an “outperform” rating on the stock. Piper Sandler decreased their price target on Salesforce from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Bank of America decreased their price target on Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Finally, UBS Group decreased their price target on Salesforce from $225.00 to $185.00 and set a “na” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Buy” and an average price target of $294.03.
Salesforce (NYSE:CRM – Get Rating) last issued its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.12. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. The company had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.24 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 25.9% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 2.1 earnings per share for the current year.
In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $197.91, for a total transaction of $455,193.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 510 shares of the business’s stock in a transaction on Monday, April 25th. The shares were sold at an average price of $171.68, for a total transaction of $87,556.80. Following the sale, the chief financial officer now owns 29,075 shares of the company’s stock, valued at approximately $4,991,596. The disclosure for this sale can be found here. Insiders sold 137,435 shares of company stock valued at $27,121,158 in the last ninety days. Company insiders own 4.10% of the company’s stock.
Salesforce Company Profile (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.
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