Lake Street Financial LLC Sells 12,146 Shares of Salesforce, Inc. (NYSE:CRM)

Lake Street Financial LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 77.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,612 shares of the CRM provider’s stock after selling 12,146 shares during the period. Lake Street Financial LLC’s holdings in Salesforce were worth $767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Santander S.A. raised its holdings in Salesforce by 3.1% during the 1st quarter. Banco Santander S.A. now owns 236,078 shares of the CRM provider’s stock worth $50,125,000 after purchasing an additional 7,128 shares during the last quarter. Goodman Advisory Group LLC increased its position in Salesforce by 20.0% during the 1st quarter. Goodman Advisory Group LLC now owns 37,694 shares of the CRM provider’s stock worth $8,003,000 after buying an additional 6,282 shares during the period. Wealthsource Partners LLC grew its holdings in shares of Salesforce by 128.7% during the 1st quarter. Wealthsource Partners LLC now owns 12,474 shares of the CRM provider’s stock worth $2,648,000 after purchasing an additional 7,020 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its stake in Salesforce by 22.7% in the first quarter. ICICI Prudential Asset Management Co Ltd now owns 79,176 shares of the CRM provider’s stock valued at $17,018,000 after buying an additional 14,640 shares in the last quarter. Finally, Andesa Financial Management Inc. boosted its stake in shares of Salesforce by 4.7% during the first quarter. Andesa Financial Management Inc. now owns 2,207 shares of the CRM provider’s stock valued at $469,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $190.17 on Friday. The business’s fifty day simple moving average is $175.12 and its two-hundred day simple moving average is $189.19. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 12 month low of $154.55 and a 12 month high of $311.75. The company has a market cap of $189.22 billion, a price-to-earnings ratio of 184.63, a P/E/G ratio of 5.25 and a beta of 1.08.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same period last year, the business posted $0.74 EPS. The company’s revenue was up 24.3% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Capital upgraded Salesforce from a “neutral” rating to a “buy” rating and set a $242.00 target price for the company in a report on Wednesday, May 18th. Jefferies Financial Group cut their target price on Salesforce from $330.00 to $260.00 in a research report on Monday, May 23rd. Citigroup lifted their target price on Salesforce to $192.00 in a research report on Friday, June 3rd. CICC Research began coverage on Salesforce in a research report on Monday, May 9th. They set an “outperform” rating on the stock. Finally, Loop Capital cut their price objective on Salesforce from $225.00 to $175.00 and set a “hold” rating on the stock in a research report on Thursday, June 2nd. Four research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $270.51.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $189.53, for a total value of $435,919.00. Following the transaction, the chief executive officer now directly owns 27,761,368 shares in the company, valued at approximately $5,261,612,077.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Parker Harris sold 973 shares of Salesforce stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $165,828.39. Following the transaction, the insider now directly owns 93,103 shares in the company, valued at $15,867,544.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $189.53, for a total value of $435,919.00. Following the transaction, the chief executive officer now owns 27,761,368 shares in the company, valued at $5,261,612,077.04. The disclosure for this sale can be found here. Insiders have sold a total of 80,049 shares of company stock worth $13,746,419 in the last ninety days. Insiders own 3.60% 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.

Featured Stories

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRMGet Rating).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.