Fermata Advisors LLC Buys Shares of 1,388 Salesforce, Inc. (NYSE:CRM)

Fermata Advisors LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,388 shares of the CRM provider’s stock, valued at approximately $418,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Eagle Asset Management Inc. grew its position in shares of Salesforce by 200.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 35,669 shares of the CRM provider’s stock worth $7,233,000 after buying an additional 23,800 shares during the last quarter. Pegasus Partners Ltd. grew its position in shares of Salesforce by 9.6% in the 3rd quarter. Pegasus Partners Ltd. now owns 1,063 shares of the CRM provider’s stock worth $216,000 after buying an additional 93 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Salesforce by 4.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the CRM provider’s stock worth $585,000 after buying an additional 128 shares during the last quarter. Operose Advisors LLC grew its position in shares of Salesforce by 401.0% in the 3rd quarter. Operose Advisors LLC now owns 481 shares of the CRM provider’s stock worth $98,000 after buying an additional 385 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Salesforce by 28.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 58,244 shares of the CRM provider’s stock worth $11,811,000 after buying an additional 12,882 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $402,735.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $406,612.96. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $402,735.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 541,787 shares of company stock valued at $149,773,683 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Salesforce stock opened at $241.80 on Wednesday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market capitalization of $234.30 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 2.11 and a beta of 1.25. The company has a fifty day simple moving average of $261.10 and a 200-day simple moving average of $276.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRM shares. Wolfe Research reissued an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Wells Fargo & Company dropped their target price on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. TD Cowen dropped their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Citigroup dropped their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Finally, Stifel Nicolaus dropped their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Profile

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